A new study released Tuesday by the Competitive Enterprise Institute (CEI) concludes that, if the leftist pie-in-the-sky Green New Deal was to be implemented, households “will be on the hook for more than $70,000 in increased costs for electricity, upgrading vehicles and housing, and shipping in just the first year under the Green New Deal.”
The study specifically looked at five model states: Alaska, Florida, New Hampshire, New Mexico, and Pennsylvania. In each of the states, it was found that year one would result in staggering new costs, to be followed by ongoing, annual bank-account draining sums into perpetuity for every household. Alaska, given its remoteness and dependence on fossil fuels, would in fact see individual household costs of more than $100,000 in year one.
This table summarizes the study’s bottom-line findings …
The joint study is co-authored by Power the Future Executive Director Daniel Turner and CEI President Kent Lassman.
“The Green New Deal is a radical blueprint to de-carbonize the American economy by refashioning how we grow food, move people and goods, source and distribute electricity, and build the structures where we live, work, and play,” Lassman said. “Our analysis shows that, if implemented, the Green New Deal would cost for American households at least tens of thousands of dollars annually on a permanent basis. Perhaps that’s why exactly zero Senate Democrats, including the resolution’s 12 co-sponsors, voted for the Green New Deal when they had the chance.”
In March, the Senate voted on the untenable socialist-promoted Green New Deal (GND) as laid out by Rep. Alexandria Ocasio-Cortez with results of zero in favor, 57 not in favor, and 43 who voted “present.”
“Economists and experts have been warning us for months about the devastating effects of the Green New Deal, and now we have the numbers to prove it,” said Daniel Turner, Executive Director of Power the Future. “This study only calculates a fraction of the cost of Alexandria-Ocasio Cortez’s radical plan, which amounts to a socialist free-for-all with no regard for the American taxpayer. No family should be forced to pay tens of thousands of dollars in the first year alone to fund AOC’s ideological wish list. Thankfully, Americans see through the Green New Deal and are beginning to fight back.”
The study put down stunning data-based numbers that are beyond comprehension. Pennsylvania alone would face a total of $2-quadrillion (two-thousand trillions), or 500 times the annual federal budget, in costs to upgrade residential, commercial, and industrial buildings.
The study’s authors cautioned that their numbers probably underestimate the program’s actual price tag. “Most provisions of the GND are so broad and open-ended that the list of potential programs necessary to implement the program is limited by the capacity of legislators to imagine a new government program,” the authors wrote. “Therefore, it is impossible to calculate the whole or maximum cost of the GND. However, other parts of the GND are more precise, sufficiently so that an approximate minimum cost estimate is available.”
The GND is being pitched by Democrats as a solution for a nebulous and debatable problem … climate change. Last week, at the 13th International Conference on Climate Change in Washington, D.C., CEI’s Myron Ebell said no compromise with the left is possible over the Green New Deal. The GND “should be ridiculed,” he told attendees. “Climate science is not normal science,” Ebell said. “It’s more like science, based on political consensus.”
Though the Green New Deal concept has no chance of being passed into law, it has become an acid test for 2020 Dem presidential candidates, none of whom have taken a position in opposition to it.
Senate Majority Leader Mitch McConnell recently called it a “destructive socialist daydream” that “would take a sledgehammer to America’s middle class.”
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