Obama Budget Includes Phantom Revenue Stream

Obama is counting on money flowing in from an imaginary Cap and Trade bill.

"The White House told Sen. John Kerry's office that the president plans to assume revenue from the controversial climate policy approach. Kerry aides said they had assurances the revenue won't be designated for issues unrelated to energy policy and combating climate change.

"Obama last year proposed in his fiscal 2010 budget that a cap-and-trade program would raise some $650 billion over 10 years via a full auction of emission credits, with the money primarily going to pay for middle-class tax cuts and development and deployment of clean energy technologies," Energy and Environment News senior reporter Darren Samuelson wrote in the publication that is subscription-only.

Read more at the Washington Examiner: http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Obamas-2011-budget-will-include-phantom-cap-and-trade-revenue-83075057.html#ixzz0e6pKqoin