(WOIO) - The congressional spending spree rolled on this week with yet another deficit busting program, an additional $34 billion for extended unemployment benefits and, also, with much fanfare the president signed the new Financial and Consumer Regulation Bill into law...2,500 pages of proposed rules and regulations that most experts say will take ten years to sort out and implement.
It's also a law that the National Chamber of Commerce says is a guaranteed jobs buster with small businesses likely to suffer the most. And what's next? It's possible lawmakers will now turn their attention to the next big thing on the liberal progressive agenda, a climate bill, sometimes called Cap and Trade. It's a proposal that would levy new restrictions on energy consumption. Critics of cap and trade say it too will hamper businesses and raise taxes.
If undertaken this summer, the timing would be ironic because just this week China passed the United States as the world's biggest energy consumer and that Asian nation has made it clear it wants nothing to do with reducing its emissions of carbon dioxide and other greenhouse gases, global warming or otherwise. Quite the contrary, China is busy signing energy purchase deals all over the world and has no plans to agree to anything that would hamper its economic expansion. A little quiz now, which nation is truly progressive?