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H.R. 2454, the American Clean Energy and Security Act of 2009

The Energy Information Administration has reported back to Congress on the economic fallout expected from the energy bill.  Here’s the nuts and bolts:

ACESA increases the cost of using energy, which reduces real economic output, reduces purchasing power, and lowers aggregate demand for goods and services. The result is that projected real gross domestic product (GDP) generally falls… GDP losses in 2030, the last year explicitly modeled in this analysis, range from $104 billion to $453 billion (-0.5 to -2.3 percent)…

The bill is a train wreck.  Congress needs to dump this thing.  No bill is better than this bill.  I’m getting nostalgic for a now-dead era when our government thought it was a good idea to encourage prosperity.  Now the Democrat-dominated Congress is bent doing things that wreck the economy.  Whether it’s from stupidy or malice is all the same to people whose jobs vanish because of misbegotten policies in Washington.

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