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Politics : I Will Continue to Continue, to Pretend....
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To: Sully- who wrote (29694)8/13/2009 6:03:55 AM
From: Sully-   of 35834
 
Cap and Trade: Measuring the Disaster

By John
Power Line

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:

powerlineblog.com
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