Projection

1999

2010

2020

Real Gross Domestic Product
(Billion 1996 Dollars)

Reference

8,876

12,667

16,515

No-Cost Allocation of Permits

12,555

16,493

Auction of Permits with Recycling to Consumers

12,565

16,456

Real Gross Domestic Product
(Percent Change from Reference Case)

No-Cost Allocation of Permits

-0.9

-0.1

Auction of Permits with Recycling to Consumers

-0.8

-0.4

Consumer Price Index
(Index, 1982-1984 = 100)

Reference

167.0

220.0

295.0

No-Cost Allocation of Permits

221.9

297.5

Auction of Permits with Recycling to Consumers

221.9

298.3

Consumer Price Index
(Percent Change from Reference Case)

No-Cost Allocation of Permits

0.9

0.9

Auction of Permits with Recycling to Consumers

0.9

1.1

Unemployment Rate
(Percent)

Reference

4.22

4.94

4.28

No-Cost Allocation of Permits

5.34

4.23

Auction of Permits with Recycling to Consumers

5.28

4.26

Unemployment Rate
(Change in Rate from Reference Case)

No-Cost Allocation of Permits

0.40

-0.05

Auction of Permits with Recycling to Consumers

0.34

-0.02

Disposable Income
(Billion 1996 Dollars)

Reference

6,363

8,928

11,842

No-Cost Allocation of Permits

8,822

11,789

Auction of Permits with Recycling to Consumers

8,861

11,819

Disposable Income
(Percent Change from Reference Case)

No-Cost Allocation of Permits

-1.2

-0.4

Auction of Permits with Recycling to Consumers

-0.8

-0.2

Non-agricultural Employment
(Million Employed)

Reference

128.5

149.7

165.1

No-Cost Allocation of Permits

148.4

165.2

Auction of Permits with Recycling to Consumers

148.6

165.1

Non-agricultural Employment
(Change from Reference Case, Million Employed)

No-Cost Allocation of Permits

-1.3

0.1

Auction of Permits with Recycling to Consumers

-1.1

0.0

Note: All percent changes and changes from the reference case are rounded to one decimal point.

Source: Simulations of the Standard & Poor’s DRI Macroeconomic Model of the U.S. Economy.