The President thinks his plan will “boost the economy by $43 billion to $74 billion” – he’s living in a fantasy world.
From Bloomberg (apparently one of those “read in” to tomorrow’s announcement): President Barack Obama will propose cutting greenhouse-gas emissions from the nation’s power plants by an average of 30 percent from 2005 levels by 2030, according to people briefed on the plans.
The proposal, scheduled to be unveiled by the U.S. Environmental Protection Agency tomorrow morning, represents one of the boldest steps the U.S. has taken to fight global warming — and a political gamble.
Obama signaled both the importance of the rule to his legacy on environmental protection and the bruising fight ahead by joining a conference call today with congressional Democrats, EPA Administrator Gina McCarthy and White House counselor John Podesta to rally support.
Obama dismissed complaints that the rule will hurt the economy by driving up electricity prices, and told the Democrats listening: “Please go on offense” to promote the plan’s benefits, said two people who were on the call, including Representative Gerry Connolly, a Virginia Democrat.
Connolly and another person on the call said the president suggested that rather than having an adverse effect on the economy — as critics say — his rule to limit carbon pollution will boost the economy by $43 billion to $74 billion.
See the U.S Chamber of Commerce response here: