$93 Trillion
$93 Trillion. It’s more money than the United States has spent in its entire history. It’s more money than the combined GDP of the entire world. It’s enough money to buy 7,000 Ford-class aircraft carriers — a figure that dwarfs the Navy’s current fleet of 11.
But it’s what Democrats’ Green New Deal could cost if they get their way.
This is not a plan that can be paid for merely by taxing the rich. If Democrats were to tax every family making more than $100,000 a year at a 100 percent rate for 10 years, it still wouldn’t cover the costs. The $93 trillion price tag breaks down to more than $650,000 per household over 10 years. That’s more than $65,000 per household, per year — more than the median household income in the United States.
Set aside the stratospheric costs for a moment, and consider the other consequences. It will cost Americans much more in terms of freedom. If you like your car, you probably won’t be able to keep it. If you like your health care, you probably won’t be able to keep it. If you like your house, you may not be able to keep that either.
For the sake of our economy and working families, let’s hope some Democrats will slow their party’s headlong rush to become the Socialist Party.
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The GND is not serious. It’s an outrageous beginning point of negotiation setting up the grifters who will pose as the great defenders of liberty. Stop this nonsense and return to core principles.
The GND as proposed by AOC and some of her colleagues of Sen. Markey and Sanders, as well as most of the presidential candidates on the left, will never see the light of a veto or a signature signed into law, but the core issue of climate most certainly will spawn carbon taxes and cap n trade schemes that will have the exact same repercussions to our economy and democracy when they take control of Congress and the Presidency in 2020. So yes, as a major plank in the Democratic platform, it is a big deal.
And speaking of core principles, where are all the fiscal conservatives who supported tax reform and now are nowhere to be found when tax revenues go down (in a strong economy) and the federal deficit has grown to a total of $310 B in the first four months of the fiscal year, up from $176 B over the same period. Having listened to Congressman, and now Senator Thune talk for years about the harm of running huge deficits, I think his credibility in mouthing such outrage over the GND is insincere.
Realistically, it’s not going anywhere as a single package, so enough with the deflection. Speaker Ryan and the rest of the GOP completely missed the mark on real tax reform. Neither party can claim to have clean hands over the years, but the most recent actions of the GOP, claiming tax reform as a key accomplishment of the Trump Administration must also take ownership for ballooning deficits.