Stephanie Vallejo notes that the Kerry-Lieberman climate change bill packs some deficit reducing punch:
Senator John F. Kerry’s signature energy and climate change legislation would cut the deficit by $19 billion, according to a new estimate released today by the Congressional Budget Office.
The legislation has uncertain political prospects, but the estimate gives proponents another argument at a time when there are rising concerns about adding to the deficit.
“There is no more room for excuses – this must be our year to pass comprehensive climate and energy legislation and begin to send a price signal on carbon,” Kerry said this afternoon in a statement with the legislation’s co-author, Senator Joseph Lieberman of Connecticut. “Many of our colleagues have said they flatly oppose anything that adds a penny to the deficit, so we hope they look anew at this initiative which reduces it.”
I’ve met Kerry’s speechwriter, and he’s a funny guy in person too.
Meanwhile, conservative deficit hawks will continue to support an agenda of tax cuts uber alles while moderate deficit hawks will conitnue to support an “energy only” approach to climate that doesn’t tackle the problem and doesn’t have a plausible funding mechanism. And yet the media will continue to operate with a narrative that pits devil-may-care hippies against very serious deficit hawks of right and center.