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Cap and trade: Where’s the benefit?

by Ed Morrissey

Martin Feldstein breaks down the costs and benefits for Americans in the Waxman-Markey cap-and-trade bill that just got approved in committee, and finds a lot of the former and none of the latter. The Harvard economist says that the bill will cost each American household an additional $1600 in energy costs. What can we expect in return? Self-esteem, if we ignore the fact that we’re getting taken by China and India:

The Congressional Budget Office recently estimated that the resulting increases in consumer prices needed to achieve a 15 percent CO2 reduction — slightly less than the Waxman-Markey target — would raise the cost of living of a typical household by $1,600 a year. Some expert studies estimate that the cost to households could be substantially higher. The future cost to the typical household would rise significantly as the government reduces the

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Added: Jun-1-2009 Occurred On: Jun-1-2009
By: JihadKiller1s1k
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Tags: Obama, Cap, and, Trade, No, benefit, for, America, Martin, Feldstein, Obama, can, keep, his, change
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