by Frank Holmes, reporter
Chuck Schumer and his Democrats think the Green New Deal has everything they need to get back into control of the government… and of the vast majority of America’s wealth.
Almost 80 percent of every Americans income.
The plans appeals to the party’s left-wing base with controls, regulations, and handouts for nearly every single group in its constituency.
All that spending isn’t going to happen for free—but Alexandria Ocasio-Cortez been downright hostile when people ask her about how much it will cost.
“The world is going to end in 12 years if we don’t address climate change, and your biggest issue is how are we gonna pay for it?” she said in January.
The phrase is popular with voters — most support the idea in the abstract. But support plummets when they find out the specifics… and the cost.
Now, thanks to a center-right think tank, we know exactly what the price tag will be… and you’d better hold onto your wallets.
The Green New Deal would cost between $51 million and $93 trillion over 10 years, according to the American Action Forum.
That’s between $36,100 and $65,300 for every American home, every year, forever.
The Green New Deal would enact a huge variety of government takeovers and giveaways in the name of “saving the environment.”
Medicare-for-All, “free” college tuition, giving every American “healthy food,” renovating every building in the country, racial reparations, and replacing all airplane flights with trains and high-speed rail are all in the plan’s overview.
The original outline posted on Cortez’s website even promised to give a guaranteed annual income to people who were “unwilling to work.”
The AAF scored each and every item the Democrats promised—and the biggest threat to the environment under the Green New Deal is being buried in an avalanche of debt.
Replacing all transportation and electricity use of fossil fuels with renewable energy would cost between $8.3 trillion and $12.3 trillion over a decade alone.
Bernie Sanders’ Medicare-for-All would cost $3.6 trillion a year.
Giving every American a job will run anywhere from $6.8 trillion to $44.6 trillion over 10 years—which seems like a lot, since the government promises everyone a living even if they refuse to work.
Paying for the Democrats’ agenda could cost Americans almost everything they have.
The $93 trillion cost is as much or more than all over U.S. government spending combined.
Total spending will come to $60 trillion over the next 10 years, but that includes every program in the entire, vast federal government—national defense, Social Security, education, EPA, OSHA, everything.
Add that to the Green New Deal, and the government will have to spend $15.3 trillion a year.
The entire U.S. GDP is $19.4 trillion.
To fund the Democrats’ socialist dream and still keep the rest of the government open, you’d have to take 79 cents out of every single dollar produced in the country until 2030 and hand it to the government. Almost 80 percent of all the wealth in America.
The little people get to live on the remaining 21 cents.
“The American Action Forum’s analysis shows that the Green New Deal would bankrupt the nation,” said Senator John Barrasso, a Wyoming Republican.
The hard-hitting analysis—from a think tank headed by a respected Republican Douglas Holtz-Eakin—has left Democrats fuming.
Sen. Ed Markey, who introduced Green New Deal legislation in the Senate, called AAF’s report a “bogus” collection of “Big Oil misinformation” that relies on “lazy assumptions…about policies that aren’t even in the resolution.”
Any so-called "analysis" of the #GreenNewDeal that includes artificially inflated numbers that rely on lazy assumptions, incl. about policies that aren’t even in the resolution is bogus. Putting a price on a resolution of principles, not policies, is just Big Oil misinformation.
— Ed Markey (@SenMarkey) February 25, 2019
Cortez set off massive infighting when she posted her version of the Green New Deal on her website. The Democratic leadership gutted her bill, and she quickly took the document off her site — but she’s convinced nothing short of her plan will keep Americans from “dying by the thousands.”
The Democrats may disagree on the exact wording, but they all agree that they don’t want to talk about its cost.
Virtually every Democrat running for president in 2020 has endorsed the Green New Deal, but they’re quiet about how they’ll pay for it.
Sen. Kristen Gillibrand ducked the question completely on “Fox News Sunday” this week.
Chuck Schumer, the Democratic leader in the Senate, is miffed that Mitch McConnell is bringing the bill up for a vote—a vote he knows it will lose.
Schumer called the idea of voting on the bill “a diversion” and “a sham”—which is exactly how conservatives describe the Democrats’ signature policy agenda.
“The Green New Deal is clearly very expensive,” AAF said in the report.
But the biggest damage isn’t financial.
The “further expansion of the federal government’s role in some of the most basic decisions of daily life, however, would likely have a more lasting and damaging impact than its enormous price tag.”
Frank Holmes is a reporter for The Horn News. He is a veteran journalist and an outspoken conservative that talks about the news that was in his weekly article, “On The Holmes Front.”