At first glance, no, it isn't.
"Cap and Trade" is indeed a direct and overt threat to the Free Market which houses, feeds, clothes, and shelters more Americans than government could ever hope to do.
The EPA has estimated Cap and Trade will cost the average household between $80-110 a year in excess energy costs. There is however no way to estimate what it will cost the country in terms of jobs (payrolls) and growth.
In a recession, efforts should be made to grow the economy, encourage investing, and reducing costs. Cap and Trade will create artificial restraints on the economy/GDP by increasing costs. This is something even the proponents will not argue and I fear is ultimately their goal.
Other policies have been silent killers like the CRA, Social Security, Medicare/Medicaid whose effects aren't felt for some time after implementation leaving plenty of room for politicking and finger pointing.
Cap and Trade will hurt the economy immediately and will force Americans who subscribe to populist politics to come to terms with consequences on their paychecks, standard of living, and the opportunities their children will have.
All of this should spark a conversation about what we are willing to give up in the name of populist politics and that may end up renewing respect for the Free Market.