The far left, radical Democrats keep pushing climate change legislation, but little was known what it all entailed, until now. First of all, the Green New Deal would ban the use of all fossil fuels from U.S. electricity generation, agriculture and manufacturing by 2030. It would also reshape the US economy, and add tens of trillions of dollars to the national debt.As a result, American families would be forced to pay more to heat, cool and provide electricity to their homes. It would raise the same costs for businesses, farmers, government and organizations, driving up their operating costs – and raising the prices for just about all the good and services Americans buy.
But it gets even better. The plan says Americans would have to power their homes with renewable energy, such as wind and solar power. Every home and business in the United States would have to be “upgraded” for “state-of-the-art energy efficiency, comfort and safety.” And a slew of massive government social programs and mandates would be created.
Yet that doesn’t seem to bother the radical left.
The Green New Deal has garnered significant attention and support from some members of the media, Congress, and even prominent senators considering 2020 presidential runs: Cory Booker, D-N.J.; Bernie Sanders, I-Vt.; and Elizabeth Warren, D-Mass.
But there are 5 hidden points the deal contains, that have nothing to do with the climate. For example, Ocasio-Cortez’s proposal calls for the creation of “basic income programs” and single-payer health care. The Green New Deal also establishes a federal jobs guarantee – one of the few non-energy-related parts of the plan Ocasio-Cortez has spent significant time advertising. And it would include provisions to “mitigate deeply entrenched racial, regional and gender-based inequalities in income and wealth.”
These people are crazy.
It does nothing to stop global warming.
Ocasio-Cortez justifies the Green New Deal as needed to slow the rise of human-caused climate change, which she, and other liberals say will cause significant damage to the economy and human health over the next century. And should the US eliminate all of its carbon dioxide emissions by the start of 2030 – something that is likely impossible – the increased carbon dioxide emissions of the rest of world would more than offset the reductions in America.
And what they fail to tell the public is that the Green New Deal would eliminate fossil fuels from all electricity generation and transportation, forcing Americans to rely largely on expensive and unreliable renewable technologies like wind and solar power. Solar generated power is nearly five times more expensive than using existing fossil fuel-powered electricity. Wind power is 3.5 times costlier.
As a result, higher costs would drive up the price of all goods and services, not just electricity bills. And because all manufacturing would also be required to rely on “green” power, industries in the United States would struggle to match the prices of their foreign competitors, forcing some businesses to either close or move overseas.
The wording of Ocasio-Cortez’s deal promises to increase the power of labor unions and give favors to left-wing industries.
The Green New Deal would “deeply involve national and local labor unions to take a leadership role in the process of job training and worker deployment,” and it promises the “funding (of) massive investment in the drawdown of greenhouse gases.” That’s a code phrase for giving billions of taxpayer dollars to renewable-energy companies.
Finally, it would raise the national debt, by trillions of dollars. Some estimates say it would cost $40 trillion in its first 10 to 15 years. The Mercatus Center estimates the single-payer health-care proposal supported by Ocasio-Cortez would, on its own, cost more than $32 trillion.
But how would it be paid? According to Ocasio-Cortez, one way to pay for these gigantic government programs would be to increase the income tax rate for America’s wealthiest earners as high as 70%, but even that radical move would fail to fund the Green New Deal.
She even went so far as to suggest funding her proposal using “the same ways that we paid for the 2008 bank bailout and extended quantitative easing programs, the same ways we paid for World War II and many other wars. The Federal Reserve can extend credit to power these projects and investments.
For having a degree in economics, she’s not too bright. Ocasio-Cortez says we should pay for these left-wing proposals by running up the national debt by trillions of dollars, putting the nation’s economy at risk of collapsing.