Bush aide: Slightly less than doubling of GDP is ‘recessionary’
Need more proof that Bush will never, ever, in a million gazillion years, sign a decent climate bill? Here’s what his right-hand hack Jim Connaughton had to say ($ub. req’d) about the relatively tepid Lieberman-Warner bill:
James Connaughton, the chairman of the White House Council on Environmental Quality, cited EPA’s worst-case modeling projections for the bill from Sens. Joe Lieberman (I-Conn.) and John Warner (R-Va.).
“We have significant concerns with the current proposals,” Connaughton said in a telephone interview.
Under any new climate law, EPA acknowledged that gross domestic product should double over the next several decades from its current $13.8 trillion, but the EPA results released Friday also show the Lieberman-Warner bill cutting into that GDP growth.
EPA models also yielded projections with less of an economic sting, but Connaughton focused on the EPA findings’ high-end costs, which show GDP falling by as much as 3.8 percent, or $983 billion, in 2030 and by up to 6.9 percent, almost $2.9 trillion, in 2050.
Advance scaremongering — expect much more of it.