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Obama Will Raise Your Electric Bill $1,800

By: Ernest Istook (Diary)  |  March 19th, 2009 at 01:41 PM  | 

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Hold onto your thermostat as well as your wallet! Annual utility bills may rise $1,800 under President Obama’s “cap and trade” energy tax plan. That wipes out his pledge of a $800 a year tax cut for 95% of Americans.

The White House admits low-balling the cost in Obama’s official budget, which claimed that his plan would add $646 billion to energy costs over 8 years.

The new price tag is three times as high, close to $2 trillion in 8 years, according to Jason Furman, deputy director of Obama’s National Economic Council. That’s $250-billion each year to be passed along to consumers, equivalent to adding an extra 50% to what the U.S. Department of Energy estimates we spend on energy each year.

A 50% increase on home utilities would average about $150 per month–$1,800 per year–since the average bill is $297 a month according to the White Fence Index. The White House claims it would offset this with an $800 per year household tax credit (and 42% of it would go to those who don’t even pay income taxes. Even with an $800 rebate, the net loss is $1,000 per family per year.

Obama claims it’s necessary to halt global warming even though the Earth is actually cooling. Americans are about to pay dearly for global warming hysteria. The planet may not be getting hotter, but people will be as they learn about this.

Details are found here at Human Events online.

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COMMENTS

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  • http://beaglescout.wordpress.com LJ “Beaglescout” Miller

    Go ahead Zero, bite everybody including your constituents in the wallet. You’ll be powerless after the 2010 elections and maybe earlier if you go ahead with this horrible, terrible, no good, very bad idea. And if the media pushes this idea, their funeral comes the day after.

  • Menlo

    It would seem to me that such a threat would cause people’s electric providers to warn their customers. Assuming this were likely, I think they are the only ones enough people will take seriously.

    Otherwise, I suppose this is what it will take for people to realize that the term “progressive” is an oxymoron.

  • Mike gamecock DeVine
  • DONTREADONME

    I would start raising electric prices ASAP in preparation for Capping Trade and Commerce, this would make the people stand up and notice prior to passing this monstrosity of a failed policy.

  • Menlo

    First, a printed note on electric bills will capture adequate attention.

    Second, you need a policy to oppose. Without a bill in Congress, there is no policy.

    However, that assumes there is sufficient notice. Considering the speed with which Congress acts and the lack of debate over legislation (the most drastic and draconian measure being easy to miss and well-hidden), I can see you would have a valid case. Still for now, I would stick with a warning on the bills.

  • Jack_Savage

    Somehow I have the feeling that the 49% of us who pay taxes will be able to afford the increase, and those who can’t will instead invest in torches and pitchforks.

  • DONTREADONME

    to date is to break your power supply into Fuels and Non-Fuel sources of electricity supply. You will notice that the fuel based electricity costs a little bit more than the nuclear and other which is very interesting. I agree with your warning, however, if it was up to me I would begin a surcharge in expectation of cap and trade, repaid in full at such time that the Congress gives up this idea. That would be how I would prepare, yes may tick off my customers, but they need to know what the are in for on this.