With all the talk of Rep. Alexandria Ocasio-Cortez and her Green New Deal being “easy” to pay for “cause we jess gotta,” there is still the question of just how much it would cost. Well, it looks like it would cost more money than exists on the planet.
According to estimates, the Green New Deal would cost $93 trillion — which amounts to $650,000 per EVERY American family!
To give you an idea of how flat out stupid this is, the whole world’s gold reserve is only worth about $8 trillion. As to paper money in general, the CIA says there is about $80 trillion in the world. The WHOLE world has less money than the Green New Deal would cost.
As Daily Caller reported:
Bloomberg reports that Ocasio-Cortez’s far-left plan would “tally between $51 trillion and $93 trillion over 10-years, concludes American Action Forum, which is run by Douglas Holtz-Eakin, who directed the non-partisan CBO from 2003 to 2005.”
The enormous price tag, which amounts to over $650,000 per U.S. household, covers a low-carbon electricity grid, net zero emissions transportation system, guaranteed jobs, universal health care, guaranteed green housing, and food security.
And just remember, these estimates ALWAYS turn out on the low side. So, the real costs would likely be far higher than $93 trillion if the world was foolish enough to put it into effect.
So, how would we pay for this? Ocasio-Cortez says that it is so “important” that we “just will” pay for it regardless of the costs.
“Some people are like, ‘Oh, it’s unrealistic, oh it’s fake, oh it doesn’t address this little minute thing. And I’m like, ‘You try! You do it.’ ‘Cause you’re not. ‘Cause you’re not. So, until you do it, I’m the boss. How ’bout that?” she babbled recently.
Even if we try to implement it a step at a time, it would sink our economy.
According to Investor’s Business Daily:
That means the Green New Deal would account for up to 35% of the nation’s economy from 2020 to 2029. That’s on top of existing federal government programs, which already consume more than 20% of GDP each year.
To call this “unrealistic” is the understatement of the year. It would be cataclysmic.
What’s most shocking about the Green New Deal, however, isn’t the unprecedented economic destruction it would cause. Nor is the fact that it will do nothing to prevent “climate change” from happening. Nor the fact that a 29-year-old socialist and her legions of followers think this would be neat.
IBD ends its article with this : “What’s most shocking about the Green New Deal is that so many leading Democrats, many of whom very much hope one day to be president, are blindly embracing it.”
Indeed.The left’s irresponsibility has exploded beyond belief.
Follow Warner Todd Huston on Twitter @warnerthuston.