We can fix this with a tax, though. And you giving up your fossil fueled travel, along with freedom, liberty, and life choices
Climate change could cost U.S. budget $2 trln a year by end century -White House
Flood, fire, and drought fueled by climate change could take a massive bite out of the U.S. federal budget per year by the end of the century, the White House said in its first ever such assessment on Sunday.
The Office of Management and Budget assessment, tasked by President Joe Biden last May, found the upper range of climate change’s hit to the budget by the end of the century could total 7.1% annual revenue loss, equal to $2 trillion a year in today’s dollars.
“Climate change threatens communities and sectors across the country, including through floods, drought, extreme heat, wildfires, and hurricanes (affecting) the U.S. economy and the lives of everyday Americans,” Candace Vahlsing, an OMB climate and science official, and its chief economist Danny Yagan, said in a blog. “Future damages could dwarf current damages if greenhouse gas emissions continue unabated.”
The analysis file:///C:/Users/8003938/AppData/Local/Microsoft/Windows/INetCac he/Content.Outlook/T0DU0FIQ/OMB_Climate_Risk_Exposure_2022.pdf found that the federal government could spend an additional $25 billion to $128 billion annually on expenditures such as coastal disaster relief, flood, crop, and healthcare insurance, wildfire suppression and flooding at federal facilities.
Is anyone surprised that OMB found the exact outcome Brandon wanted?
The president’s “Build Back Better” bill, which contained hundreds of billions of dollars in funding to fight climate change and support clean energy, has been stalled in the narrowly-divided Senate by Republicans and West Virginia’s conservative Democrat Senator Joe Manchin, the founder and partial owner of a private coal brokerage.
Biden late last month submitted a $5.8 trillion budget plan to Congress with a focus on deficit reduction in an apparent overture to Manchin has said he could not vote for the bill because it would worsen deficits. Biden’s budget plan calls for nearly $45 billion to tackle climate change in fiscal year 2023, an increase of nearly 60% over fiscal year 2021.
OK, so, let’s say we do all this. Who’s held responsible if it makes zero or barely any difference?
Read: ‘Climate Change’ Could Cost US Budget $2 Trillion A Year By 2100 Or Something »