The following is a speech given on the House floor last Friday by California Rep. Tom McClintock, after the passage of the Waxman-Markey Cap-and-Trade bill. The speech is insightful, well constructed, and makes a comparison to the history of the Great Depression many of us have not heard before.

McClintock first discusses California's climate change legislation of 2007 and how it drastically deepened the state's financial woes, and then compares cap-and-trade to the disastrous Smoot-Hawley Tariff that sent the country into the Great Depression. It also doesn't hurt that he casually rips apart the claims of global warming alarmists used as a reason to support the bill.