Director of the CBO on Cap and Trade, and Climate Change Truth
Follow this logic: "a relatively pessimistic estimate for the loss in projected real gross domestic product [GDP] due to climate change is about 3 percent…by [the year] 2100" " Reducing the risk of climate change would come at some cost to the economy. For example, the Congressional Budget Office…concludes that the cap-and-trade provisions of H.R. 2454…would reduce gross domestic product (GDP) below what it would otherwise have been—by roughly ¼ percent to ¾ percent in 2020 and by between 1 percent and 3½ percent in 2050. By way of comparison, CBO projects that real (inflation-adjusted) GDP will be roughly two and a half times as large in 2050 as it is today, so those changes would be comparatively modest." Yeah, and even more "modest" in 2100. The cost in 2050 is still $500billion, which is $500billion less to divide among American citizens - lower standards of living, less economic opportunity, less housing, less social welfare, less everything. And why?...