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Green New Deal analysis shows staggering per household costs if implemented
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by Indy Staff
Issue 170 - 10/15/2019
The Green New Deal, a progressive environmental and social policy wish list sponsored by Representative Alexandra Ocasio-Cortez (D-NY) and Senator Ed Markey (D-MA) has wide support from Democrats with 68 co-sponsors and declared presidential candidates Kamala Harris, Elizabeth Warren, Bernie Sanders and Tulsi Gabbard. The GND includes a low-carbon electricty grid, zero net emissions transportation, guaranteed jobs, universal health care, guaranteed green housing and food security.

As the name suggests, the heart of the GND is an effort to curb carbon emissions and thus to slow climate change, but the package contains a wide set of other policy proposals that are not directly linked to climate policy: a job guarantee, food and housing security, and a variety of social justice initiatives. The lofty goals GND are a strong economy, quality infrastructure, justice and a pristine environment.

The American Action Forum, a non-profit run by former Director of the Congressional Budget Office Douglas Holtz-Eakin, provided analysis of the GND and it's sweeping policy plans which lays out ambitious objectives for energy and economic policy.

The American Action Forum found that if adopted, the six major components of the GND would cost each household in the United States a staggering $670,000 between 2020 and 2029 - almost $75,000 per household per year. To put that in perspective, the median income in Orange county is only $38,000 per year, or 100% of the income generated by the median two-income household.

Despite the fact that nearly everyone agrees that we should take better care of the environment, with a total price tag estimated at $88,701,500,000,000.00 the GND is a bloated government wish list that Americans simply cannot afford, that will ultimately eat 100% of the country's GDP and collapse the government with unserviceable debt, leaving taxpayers holding the bag. Voters should proceed with caution as they head to the ballot box for the 2020 election.

Economy, Business and Finance   > Economy
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