a) The Small Business Administration estimates that compliance with such (climate) regulations costs the U.S. economy more than $1.75 trillion per year — about 12%-14% of GDP, and half of the $3.456 trillion Washington is currently spending. The Competitive Enterprise Institute believes the annual cost is closer to $1.8 trillion when an estimated $55.4 billion regulatory administration and policing budget is included. CEI further observes that those regulation costs exceed 2008 corporate pretax profits of $1.436 trillion.
b) A U.S. Energy Information Administration economic forecasting model indicates that a proposed 70% cut in CO2 emissions will cause gasoline prices to rise 77% over baseline projections, kill more than 3 million jobs, and reduce average household income by more than $4,000 each year.
c) According to the GAO, annual US federal climate spending has increased from $4.6 billion in 2003 to $8.8 billion in 2010, amounting to $106.7 billion over that period….This doesn’t count about $79 billion more spent for climate change technology research, foreign aid and tax breaks for “green energy.”
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im42na 