December 5, 2009 in Letters

Climate bill costs mount

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The climate change bill, now considered by the U.S. Senate (the Heritage Foundation June 8, 16 and 24, 2009), would:

Reduce GDP annually by $350 billion, increasing to $700 billion by 2035, costing a family of four $1,870 annually, increasing to $6,790 by 2035.

Increase unemployment annually by 1.1 million, increasing losses to 2.5 million by 2035, even after adding new “green” jobs.

Raise gasoline prices by 58 percent, costing your family $565 annually, accumulating to $7,254 by 2035.

Raise annual direct energy costs $1,241 for your family, adding $19,897 by 2035.

Increase your family’s electricity bill by 90 percent, or $468 annually, accumulating to $9,410 by 2035, while forcing a 36 percent electricity reduction.

Increase federal debt per person by 26 percent or $28,728, accumulating additional family debt of $114,915 by 2035.

Provide a benefit, calculated by climatologist Chip Knappenberger, of a few hundredths of a degree decrease in temperature by 2050 and levy “hidden” costs upon your family as government, service, manufacturing, food and transportation industries pass on their cost of carbon dioxide compliance.

Costs assume a $28 per ton carbon dioxide tax, but Congress anticipates increasing the tax to $50.

David Boleneus

Spokane

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