(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
Increase national debit and energy costs, reduce GDP and discretionary income. It is hard to see the benefits to this legislation, especially when it is widely believed to be unable to positively affect the environment. Write Congress at http://tiny.cc/pxIgi.
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