Your Opinion: Federal weatherization program boondoggle

Dear Editor:

There now appears to be proof that the federal Weatherization Assistance Program (WAP) appears to be yet another vote buying boondoggle foisted on us by the big spenders in D.C.

A study conducted by people from the University of California, Berkeley and the University of Chicago, showed that there is a negative rate of return on the money the feds spent winterizing homes, nearly 10 percent. Of course that is no big deal for the homeowners, the work cost them nothing more than a vote for more big government. Lest you think this program is small potatoes, the feds funded it with $5 billion in just 2012. They borrowed the money and piled the additional debt onto the shoulders of all future generations.

The study included 30,000 Michigan homes that were approved for assistance because the feds said the investments on these homes would provide reasonable paybacks. The average winterization cost per home exceeded $5,000. The feds projected savings of roughly 2.5 times actual savingsYou might think "save the planet from global warming" justifies the cost. The feds say the "social cost" of CO2 is $38/ton. The results of this study showed that these reductions had a cost of $329-484/ton.

No doubt that the "scientists" who came up with the figures justifying this program are some of the same ones who are absolutely positive that man is responsible for global warming.

http://econresearch.uchicago.edu/sites/econresearch.uchicago.edu/files/paper_draft_06_15_clean.pdf

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