Over at Grasping Reality: Neel Kashkari Finds Out Our Big Macroeconomic Problem Is Lack of Demand
A Note on the Shape of Yesterday's GDP Growth Number

Morning Must-Read: Ari Phillips: Paul Ryan Says Climate Change Is An Excuse To Illegally Grow Government And Raise Taxes

Ari Phillips: Paul Ryan Says Climate Change Is An Excuse To Illegally Grow Government And Raise Taxes: "Rep. Paul Ryan (R-WI) said Wednesday that...

...'climate change occurs no matter what', but that the EPA’s recent efforts to reduce emissions from existing power plants are 'outside of the confines of the law', and 'an excuse to grow government, raise taxes and slow down economic growth'. Speaking at a breakfast hosted by the Christian Science Monitor in Washington, Rep. Ryan said that he would argue that the 'federal government, with all its tax and regulatory schemes' can’t do anything about climate change. He said that what climate regulations 'end up doing is making the U.S. economy less competitive'.... Section 111(d) of the Clean Air Act requires the EPA to develop regulations for 'air pollution which may endanger public health or welfare'. In 2007 and again in 2011, the Supreme Court ruled that carbon pollution fits under that category. EPA chief Gina McCarthy recently said that she wouldn’t put forth a rule that 'doesn’t respect the Clean Air Act and isn’t legally solid', and that she is confident the regulations will survive any legal challenge...."

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