Tom LoBianco,Washington Times
Obama as JFK
President Obama is banking on $300 billion to come in by 2022 from a cap-and-trade plan to reduce greenhouse gases,according to a source with knowledge of the president’s proposed budget.
Mr. Obama expects money from the climate-change proposal to start rolling in by 2012,and that amount would come in over the subsequent 10 years as companies purchase carbon offsets,according to the source.
The budget’s assumption of money from a revenue stream that does not yet exist provides a concrete indication that Mr. Obama expects a cap-and-trade system to be in place soon although Congress still must shape,write,debate and decide on a timetable for legislation that likely will be divisive even among Democrats.