------------------------------------
Price tag of Green New Deal put at $93 trillion
by Josh Siegel
The "Green New Deal" resolution introduced by progressive Democrats would cost up to $93 trillion over 10 years.
The American Action Forum, led by Douglas Holtz-Eakin, former director of the nonpartisan Congressional Budget Office, said in a report the proposal would cost between $51 trillion and $93 trillion over 10 years.
In comparison, total government spending over the next 10 years is projected to total less than $60 trillion, according to the Congressional Budget Office.
The American Action Forum analysis says the Green New Deal's call to eliminate carbon emissions from the power and transportation sectors would cost between $8.3 trillion and $12.3 trillion.
It estimates a federal job guarantee proposed in the resolution would cost $6.8 trillion to $44.6 trillion. Universal healthcare, another component of the Green New Deal resolution, would cost $36 trillion over 10 years, the report found.
Republicans jumped on the report.
“The American Action Forum’s analysis shows that the Green New Deal would bankrupt the nation,” said Sen. John Barrasso, R-Wyo., the chairman of the Senate Environment and Public Works Committee.
Barrasso said government policy to combat climate change should emphasize promoting innovation through investments in new technologies like advanced nuclear power and carbon capture on fossil fuels plants.
But supporters of the Green New Deal say those targeted investments are insufficient. Sponsors of the resolution also said the American Action Forum report is intentionally misleading. That’s because sponsors intended the Green New Deal to be a broad vision to combat climate change, with details to be filled in later through various pieces of legislation after debate through relevant congressional committees.
“Any so-called 'analysis' of the #GreenNewDeal that includes artificially inflated numbers that rely on lazy assumptions, incl. about policies that aren’t even in the resolution is bogus,” tweeted Sen. Ed Markey, D-Mass., who co-introduced the Green New Deal resolution. “Putting a price on a resolution of principles, not policies, is just Big Oil misinformation.”
More Democratic mumble-jumble horse shit.
No comments :
Post a Comment