Among the more creative ways the White House plans to pay for its spending is a carbon emissions cap that the President says will produce $150 billion. The money would finance renewable energy projects and pay for middle-class tax credits. President Obama's budget blueprint is a nearly $4 trillion plan that includes major spending and major deficits as the government tries to combat the severe recession. Joining us this morning to discuss this plan to cap and spend is New York Times Reporter John Broder who has been covering this story.
For more, read Drilling Down on the Budget: Setting ‘Green’ Goals
in today's New York Times.
"You can't begin to regulate and tax carbon unless you know where it's coming from."
— New York Times reporter John Broder on President Obama instituting a carbon emissions cap