[ad_1]
EEven without killing all the cows farting and eliminating the last car on the road, the Green New Deal will cost between 2.5 and 4.5 times the total amount of US GDP, according to a study by the American Action Forum.
The center-right think-tank led by a former director of the congressional budget office estimated the resolution adopted by most of the presidential candidates for the 2020 Democratic presidency would cost between $ 51,000 and $ 93 trillion during its first round of talks. decade.
As the newly appointed leader of democratic ideas, Republican Alexandria Ocasio-Cortez, D-N.Y., Once reminded us: "The world will end in 12 years if we do not take into account climate change". It is therefore natural that the AAF has deepened the minutiae not only of the costs, but also of the effectiveness of the Green New Deal. And it turns out that the resolution is even more inefficient and redundant than previously thought.
Of course, there are aspects of the bill that are not related to the environment that we all like to hate. The nationalization of our health care system, which currently accounts for one-fifth of the US economy, would cost $ 36 trillion in the first decade, according to the AAF, a few thousand trillion more than the previous estimate of the Mercatus Center for the summer. The federal guarantee for employment is valued at $ 6.8 billion to $ 44.6 billion, and "food security" would be $ 1.5 billion more. However, even the aspects that would theoretically reduce greenhouse gas emissions would not only lead to exorbitant costs, but would also be contradictory.
GND calls for updating or upgrading every building in the country in a decade. But, as noted by AAF, any environmental benefit likely to result even if it was actually applied would be considerably mitigated by the redesign of the energy network. And the redesign of the energy network would cost $ 5.4 trillion in initial investment alone in the first decade. For reference, this is about $ 1 trillion more than our entire annual federal budget.
Climate change is a real and urgent threat to global security. But we will not solve the problem by spending tens of billions of dollars on socialist programs that will not reduce a single iota of greenhouse gas emissions. No program that fails to encompass the expansion of nuclear energy and to strongly encourage India and China to reduce their emissions, next to which ours constitute a rounding error .
And even if climate change will bring huge economic costs if it is not finally supported, the Green New Deal is even more expensive, and even enormously.
Ocasio-Cortez and Senator Ed Markey, D-Mass, introduced the resolution by warning the United Nations that climate change could cost the country half a trillion dollars each year by 2100.
Half a trillion dollars a year in 80 years is bad. $ 93 trillion over the next decade is a little worse.
[ad_2]
Source link