THE ADMINISTRATION CAP AND TRADE PROPOSAL.

Brad Plumer assesses the administration's cap and trade proposal. So does Dave Roberts (and here, and here). Here's the relevant section of the budget (pdf).

Two thoughts: Insofar as the criticism goes, this really seems a case where the administration is on the cutting edge of the political conversation, but the political conversation is lagging far behind the severity of the crisis. Second, connecting the cap and trade revenues to the Making Work Pay tax credit seems an odd choice. The connection is only obvious if you read the budget. The cap and trade revenues should be funding a Clean Energy Tax Credit, or a Greener America tax credit, or something that makes the link more concrete.