Leftist Brookings Institution: “Cap & Trade” will cost trillions – UPDATED!
Posted by iusbvision on June 25, 2009
Via Heritage Foundation:
- Posted June 9th, 2009 at 1.27pm in Energy and Environment.The Brookings Institution released their own analysis of analysis on the costs of cap and trade yesterday. Unlike Heritage’s recent Center for Data Analysis study, the Brookings effort does not analyze any particular bill, but does look at the economic costs of four policy scenarios. Their conclusions:
- Loss in Personal Consumption of $1 to $2 trillion present value
- Incremental stringency produces high incremental cost, e.g. extra 8 % reduction increases costs 45%
- US GDP in 2050 lower by 2.5%
- -0.5% at peak in first decade
Total bill looks like 9 Trillion according to some estimates. Brookings is a leftist/Democrat think tank.