President Biden’s new executive order on climate change would basically let the government do virtually anything in any part of the economy or the financial markets, or labor markets, or agriculture — or anything — in the name of mitigating risk of climate changes.
I haven’t read the full Executive Order yet, but you just have to trust me on this. It has a two-page fact sheet, and that alone makes it clear that the Executive Order is a thing to behold. I recommend everyone read this thing. It will take two or three minutes.
It has all the far-left Green New Deal climate change features that will destroy fossil fuels and capitalism, destroy jobs and the economy. It’s all in there. Everything a lefty greenie could possibly hope for. They’ll sleep with smiles on their faces.
The things the executive order will regulate and control add up to really the whole economy, all in the name of global warming. Massive and unprecedented central power would come from the District of Columbia and be exercised by upper- and middle-level bureaucrats.
It would unleash government regulation and meddling unseen since FDR signed the National Industrial Recovery Act. Under that law the government went after all kinds of businesses, even mom and pop businesses, to try to make them more efficient.
Mr. Biden’s order starts with the claim that “intensifying impacts of climate change present physical risk to assets, publicly traded securities, private investments, and companies — such as increased extreme weather risk leading to supply chain disruptions.”
On such a basis, the Bidenites are claiming the power to regulate just about everything. Even your signing a loan for a new home, or how your savings and retirement funds are managed. Here’s one that’s especially fun: It aims to “reduce the risk of climate change to the federal budget.”
In other words, $6 trillion is just the tip of the melting iceberg. You know I’m right, because no one can make this up. All this despite the fact that physicists and energy experts like Steve Koonin and Mark Mills and Bjorn Lomborg have stated why none of this stuff is an existential crisis or existential threat.
Yes, there are climate issues, I’m not denying it. The impact of these issues, though, is, according to our experts, minimal. Five one-hundredths of a percent slower growth over the next 90 years, according to official government documents.
Every time we go through this, we get slammed for days on end by the left-wing bloggers and tweeters. They scream at our guests, our network, and me and everybody else that I’ve met in my lifetime. You know what? I’m proud of it, sincerely proud of it.
Someone’s got to stand athwart history and just say, “No, we’re not going to bring down our entire capitalist, market-based, free-enterprise system, nor our values, nor our workforce, nor our international standing, because of a bunch of fact-free assertions that at best indicate minor and quite manageable problems in the years ahead.”
The last time the government tried something on this scale — unleashing an agency called the National Recovery Administration — the institution that stood athwart history and said “no” was the Supreme Court. It ended the centerpiece of the New Deal as congress delegating too much power to the government. The vote was nine to zero.
Let’s not wait for that, folks. Mr. Biden, after all, is skipping Congress. The “fact sheet” for Mr. Biden’s executive order suggests his plan could lead to programs worse than FDR’s. The full text of the executive order is a complete bureaucratic word salad. What it makes clear is that they are coming for you and your property and the free market system that built our country.
Adapted from Mr. Kudlow’s broadcast on Fox News.