Thursday, April 22, 2010

EC: Here comes the next economic disaster


Randall Hoven

"CBO has estimated the loss in households' purchasing power that would result from the primary cap-and-trade program that would be established by H.R. 2454...The loss would equal about 0.1 percent of GDP in 2012, about 0.5 percent in 2030, and about 0.8 percent in 2050, CBO estimates; the average loss per year over the entire 2012-2050 period would be about 0.4 percent." Congressional Budget Office.
Hoven's Index for April 22, 2010


Estimated costs per household per year for Cap & Trade in various years (2010 dollars):

2012: $90

2020: $160

2030: $550

2040: $630

2050: $930

Source: Congressional Budget Office.

Comment: Time to begin studying this unnecessary bill. This is all about control of the market system-it will produce an enormous new bureaucracy costing hundreds of millions of dollars each year-this on top of the financial burden of the health care program. The end result is government grows, people like Gore prosper selling bogus pieces of paper meant to assist saving the planet. The entire premise of Cap 'N Trade is false-please also note that it will not reduce one's "carbon footprint" in any meaningful way other than increase the power of government and loss of personal freedom. We owe our grand children more than this-gather the facts and then courage!

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