Friday, May 15, 2009

Economic Destruction, Brought to You By . . .

There is a bill working its way through our Democrat controlled Congress that, according to the Heritage Foundation, would:

1. Reduce aggregate gross domestic product (GDP) by $7.4 trillion,

2. Destroy 844,000 jobs on average, with peak years seeing unemployment rise by over 1,900,000 jobs,

3. Raise electricity rates 90 percent after adjusting for inflation,

4. Raise inflation-adjusted gasoline prices by 74 percent,

5. Raise residential natural gas prices by 55 percent,

6. Raise an average family's annual energy bill by $1,500, and

7. Increase inflation-adjusted federal debt by 29 percent, or $33,400 additional federal debt per person, again after adjusting for inflation."
The CBO (Congressional Budget Office) is sounding the alarm on this moronic proposal as well. Now why, with our economy already in peril, would they consider passing legislation that would economically cripple every one of us - including those least able to afford it? Get over to Cincinnatus - Frank will explain it to you.

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