Obama's surprising admissions
In an interview earlier this year with the San Francisco Chronicle, Barack Obama made two surprising admissions. First, he acknowledged that consumers should expect enormous rate increases due to his plan to reduce greenhouse gases. In the same breath, he admitted that when government actions negatively impact business, that cost will be passed on to consumers:
You know, when I was asked earlier about the issue of coal, uh, you know — under my plan of a cap and trade system, electricity rates would necessarily skyrocket. Even regardless of what I say about whether coal is good or bad. Because I’m capping greenhouse gases, coal power plants, you know, natural gas, you name it — whatever the plants were, whatever the industry was, uh, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers.They will pass that money on to consumers. It makes one suspect that Obama knows his tax policies against, say, the oil industry will result in higher costs for consumers, but that he either doesn't intend to follow through on his threats, or doesn't care about the impact on you and me.