CBO Report on Cap-and-Trade

On Thursday the Congressional Business Office (CBO) issued their report on the proposed cap-and-trade legislation. Here is a notable graph included in the analysis:


Clearly something needs to be done to curb the CO2 emissions that are warming the planet. Cap-and-trade is a good first step to get back on the right track. In short here are the findings:

1. Cap-and-Trade works!
2. The "tax" would likely be passed on to the consumers
3. The government has the tool at their disposal to combat rate hikes

Of course, wingnuts are already going crazy over finding #2. The problem is that they are ignoring the next 6 pages of tools at the government's disposal to off-set the likely rate hikes.

Check out the report: Here
Check out the CBO blog entry: Here