That is not an exaggeration. The EPA declared today, in spite of the ongoing Climategate scandal, the science on greenhouse gases is solid. It will now consider such gases pose a threat to public health and the environment. therefore, they must be regulated for thecommon good.
What this allows for is an avalanche of new regulations on private industry and citizens. Practically any level of emissions from any single business can be red taped out of existence. The auto industry, with the fine shape it is in, can already hear its death knell because of difficult requirements in place for 2016. You can look for government to eventually tell you what kind of light bulbs you can and cannot use in your own living room.
Combine this move with the bank bailout, the GM absorption, and the attempted takeover of healthcare. What you have is the complete destruction of the private sector in the United States thanks to Barack Obama’s naive allegiance to the idea government should solve any and all problems.