Ben Lieberman, an energy policy scholar at the Heritage Fondation, testified yesterday [July 30] before the House and Senate Western Caucus, on the economic impact of the Waxman-Markey American Clean Energy and Security Act, a cap-and-trade energy tax that passed through the House of Representatives on June 26th.
Here’s a sobering excerpt:
“Overall, Waxman-Markey reduces gross domestic product by an average of $393 billion dollars annually between 2012 and 2035, and cumulatively by $9.4 trillion dollars. In other words, the nation will be $9.4 trillion dollars poorer with Waxman-Markey than without it.”
Thanks for that information. I can use it in arguments elsewhere.
Yes, Cap and Trade no doubt is going to be the other fight for our very lives.
If they pass one or both of these Draconian measures, look for our recession to become (if not already) full blown depression very fast.
It’s really getting ugly out there.