CBO cooks the books for Democrat energy tax

Energy Tomorrow:

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Recently, the Congressional Budget Office (CBO) produced a new analysis of the Waxman-Markey bill, estimating that the net cost per household will be only $175 a year. API economists have reviewed this analysis and have found that it is deeply flawed. It fails to address the reduction in Gross Domestic Product from the higher cost of carbon--an impact that could be in the hundreds of billions of dollars--and it counts the value of free allowances given to businesses as a benefit to average American households. Together these flaws have the effect of biasing the CBO study to provide a much lower estimated economic impact on households than can be realistically anticipated.

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The CBO has always had a bias when it comes to dynamic scoring. It ignores the impact on the economy as a whole of tax cuts and at the same time it also ignores the debilitation effect of increased taxes on the economy. That appears to be what it has done with the taxes that are implicit in the Democrats' control freak energy bill.

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