(via Powerline): Cap and Trade: Measuring the Disaster August 11, 2009 Posted by John at 4:45 PM
"The Heritage Foundation has released a new economic analysis of Waxman-Markey, the cap and trade bill that is dead--we hope--at least for this year. The results aren't pretty. Heritage finds that Waxman Markey would, by 2035:
* Increase gas prices 58% above the increases included in the baseline forecast.* Increase electricity prices by 90%.
* Raise energy costs for an average family of four by $1,241 per year.
* Cause the average family of four to pay $4,609 more per year, including increased taxes.* Reduce GDP by an aggregate amount of $9.4 trillion.
* Increase the national debt by an additional $12,803 per person.
This chart illustrates the projected increases in energy costs; click to enlarge: (go to link to see charts) http://www.powerlineblog.com/archives/2009/08/024249.php