Anyone thinking the benefit (?) would be a noticeable effect on global temperatures is going to be disappointed, as the article points out. Government-controlled climate is a fantasy, however much the exchequer is robbed.
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Democrats accidentally showed their hand by voting for a new loophole to the U.S. House of Representatives budget rules, says the Washington Examiner.
The “pay as you go” rule, which imposes a modicum of fiscal restraint by requiring spending increases to be accompanied by spending cuts to keep the national deficit from growing, now specifically excludes climate change-related bills.
In going forward with it, the House essentially admitted that we can’t afford the Green New Deal and that Democrats don’t want you to know how much it costs, either.
Carving out special treatment for big-government climate programs will give Congress license to spend with abandon on nominally eco-friendly initiatives without the slightest impact on climate change.
Though the true cost of the Green New Deal is unknown, estimates range from $50 trillion to $90 trillion. To put that in perspective, last year’s entire federal spending on every single agency and program, both the essential and the fundamentally silly, was $6.6 trillion.
Dropping $50 trillion would require either raising taxes by a mind-boggling percentage or at least doubling the national debt, giving each taxpayer a share of the debt of more than $400,000.
Full article here.
via Tallbloke’s Talkshop
January 13, 2021 at 03:51AM