Sunset News: Cap and Trade Would Cripple the U.S. Economy

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Thursday, October 29, 2009

Cap and Trade Would Cripple the U.S. Economy

Cap and Trade Would Cripple the U.S. Economy: While there is no evidence that cap and trade legislation will halt climate change, there is strong evidence it will hurt the U.S. economy. A study by The Heritage Foundation’s Center for Data Analysis on a similar companion bill proposed in the House finds that the law would make the United States about $9.4 trillion poorer by 2035. Much of this decline would be from reduced economic productivity and job loss. In particular, under the House legislation there would be 1.15 million fewer jobs on average than without a cap-and-trade bill. A collapse in U.S. economic growth would result in even more draconian cuts to the defense budget, leaving America with a military much less prepared to deal with future threats. Indeed, if America’s military power declines, there would probably be more wars, not fewer

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