We are going to pay more for not only energy but for everything we buy. All of these cost will be passed to us, making China’s products even cheaper than they are now. This bill will mean further reduction in jobs and a doubling of your energy bill:

The hit to GDP is the real threat in this bill. The whole point of cap and trade is to hike the price of electricity and gas so that Americans will use less. These higher prices will show up not just in electricity bills or at the gas station but in every manufactured good, from food to cars. Consumers will cut back on spending, which in turn will cut back on production, which results in fewer jobs created or higher unemployment. Some companies will instead move their operations overseas, with the same result.[…]Even as Democrats have promised that this cap-and-trade legislation won’t pinch wallets, behind the scenes they’ve acknowledged the energy price tsunami that is coming. During the brief few days in which the bill was debated in the House Energy Committee, Republicans offered three amendments: one to suspend the program if gas hit $5 a gallon; one to suspend the program if electricity prices rose 10% over 2009; and one to suspend the program if unemployment rates hit 15%. Democrats defeated all of them.

Notice how the Republicans are trying to mitigate the damage and the Democrats aren’t letting them. It’s amazing to me that in the middle of a recession the Democrats would do something that means we lose even more jobs than we are now. Unemployment is at 10% and they’re voting for a bill that they would mean the loss of even more jobs.But why take the WSJ’s word for it, Obama himself says that under his plan “energy costs would sky rocket:”If you want to know exactly what you’ll be paying when, you can read the 1,000 page bill (with it’s 300 page amendment just added this morning, yeah they’ll have time to read that before they vote).And that doesn’t bother him. Does it bother you?Update: More Democrats admitting it’s a huge tax on energy that will mean your rates will go up. And here’s an analysis of the cost ($4300 per family per year).