Whether it is mandated 401k’s, ObamaCare, or his latest, nationwide renewable mandate, it would seem that New Mexico’s senior senator’s best and only idea for turning our nation’s economy around is for the federal government to mandate economic growth.
Of course, the real-world economy doesn’t work like that. Mandates are necessary because the behavior that government force is used to dictate is not the most efficient or least expensive way to do things. Paul Chesser writing in the Washington Times As Chesser writes:
A study by the Washington-based Institute for Energy Research found that states with their own binding renewable electricity standards have 40 percent higher electricity prices than do states without such mandates.
The full impact of these renewable energy mandates at the state level has not yet been realized as most of them (like New Mexico’s, which goes fully into effect in 2020) are not fully-implemented. If Bingaman and his allies in Congress really want to turn the economy around, perhaps they will consider repealing some mandates. I’m not holding my breath though.