Here It Comes! Are You Ready?

Nancy Pelosi will ram through Waxman-Markey bill on Friday. Under the law:

•Compared to no cap and trade, real GDP losses increase an additional $2 trillion, from $7.4 trillion under the original draft to $9.4 trillion under the new draft;

•Compared to no cap and trade, average unemployment increases an additional 261,000 jobs, from 844,000 lost jobs under the original draft to 1,145,000 lost jobs under the new draft; and

•Peak-year unemployment losses rise by 500,000 jobs, from 2 million under the original draft to 2.5 million under the new draft.

The law would:

•Reduce aggregate gross domestic product (GDP) by $9.4 trillion;

•Destroy 1,145,000 jobs on average, with peak years seeing unemployment rise by over 2,479,000 jobs;

•Raise electricity rates 90 percent after adjusting for inflation;

•Raise inflation-adjusted gasoline prices by 58 percent;

•Raise residential natural gas prices by 55 percent;

•Raise an average family's annual energy bill by $1,241; and

•Result in an increase of $28,728 in additional federal debt per person, again after adjusting for inflation