What’s 93 Trillion Between Friends?

 

Lawrence: “I shall want quite a lot of money.”

Allenby: “All there is.”

Lawrence: “Not that much.”

Lawrence of Arabia (1962)

 

 

The American Action Forum has attempted to put numbers to the Green New Deal and estimates the cost over a decade to be in the area of 50 to 93 trillion dollars:

 

Executive Summary

The Green New Deal (GND) is a sweeping policy plan setting out ambitious objectives for energy and economic policy. The breadth of its proposals makes it daunting to assess the GND using the standard tools of policy analysis. Nevertheless, this short paper is an initial foray. We have three broad conclusions:

  • The GND’s proposed goals, “mobilization,” and specific policy projects encompass social and institutional changes far exceeding the narrow policy goals, but these changes are impossible to quantify at this point;
  • Many of the policies proposed in the GND are redundant with other aspects in it, which also complicates a precise analysis, as the interactions are difficult to predict; and
  • The GND will be very expensive – our initial estimates for the tractable aspects (best thought of as estimating the order of magnitude) are summarized below.
Summary Table(2020-2029)
Goal Estimated Cost Estimated Cost Per Household
Low-carbon Electricity Grid $5.4 trillion $39,000
Net Zero Emissions Transportation System $1.3 trillion to $2.7 trillion $9,000 to $20,000
Guaranteed Jobs $6.8 trillion to $44.6 trillion $49,000 to $322,000
Universal Health Care $36 trillion $260,000
Guaranteed Green Housing $1.6 trillion to $4.2 trillion $4,000 to $12,000
Food Security $1.5 billion $10
Go here to read the rest.  To put this in perspective, the gross domestic product of the US is around 22 trillion dollars.  The gross domestic product of the planet is around 75 trillion dollars.  Obviously the loons who came up with the New Green Deal care not a whit for what it would cost, assuming, as they must, that the Federal government can conjure it out of thin air.  Any attempt to implement this farce would crash not only our economy, but also likely crash the global economy.  The above cost estimates do not take into account the cost of ending completely the use of fossil fuels and the retooling of everything that currently runs on internal combustion engines.  Much of the Green New Deal relies upon implementing technologies over the next ten years that we simply do not have yet, and going cold turkey away from fossil fuels and nuclear.  To call this madness is to be too kind to the proponents of this massive insult to the intelligence of the sentient.

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6 Comments

  1. You can do a low carbon electric grid for a whole lot less than $5.4 trillion ($34K per household) if you release the regulatory stranglehold the US NRC has over the nuclear power industry and stop paying attention to these eco-wacko environmentalists. But Kamala Harris, AOC, Bernie Sanders and the rest don’t want that either. Yet all the millennials will vote for this crap.

    Everything listed up there is a pipe dream. Unicorns and money on trees.

  2. A net zero carbon transportation system for the cost of a new car per household seems low to me. Or is the plan to make us walk everywhere?

  3. Any attempt to implement this farce would crash not only our economy, but also likely crash the global economy.

    If I didn’t know better, I would say that is precisely the plan.

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