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19%  
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  • Waxman-Markey: Man-Made Disaster

    06/25/2009 5:07:18 PM PDT · by WhiteCastle · 28 replies · 2,146+ views
    IBD Editorials ^ | June 25, 2009 | Investor's Business Daily
    Fiscal Policy: The House of Representatives is preparing to vote on an anti-stimulus package that in the name of saving the earth will destroy the American economy. Smoot-Hawley will seem like a speed bump...As we've said before, capping emissions is capping economic growth. An analysis of Waxman-Markey by the Heritage Foundation projects that by 2035 it would reduce aggregate gross domestic product by $7.4 trillion. In an average year, 844,000 jobs would be destroyed, with peak years seeing unemployment rise by almost 2 million. Consumers would pay through the nose as electricity rates would necessarily skyrocket, as President Obama once...