Saturday, February 29, 2020

The Green New Deal would cost each NM household $74,000 the first year.

According to the CEI study, full implementation of just the energy part of the Green New Deal would cost NM households $74,432 the first year, $47,019 a year for years 2-5, and $40,970 for year 6 and each year thereafter.

The Washington Examiner covered the story:

Upstart socialist darling Rep. Alexandria Ocasio-Cortez made her name in part with a signature policy package dubbed the “Green New Deal.” With an initial draft promising everything from free healthcare for all to eliminating cow farts, the version that Ocasio-Cortez and Sen. Ed Markey eventually introduced was only slightly less ridiculous.
Don't forget, this resolution was co-sponsored by 2020 front-runner Sen. Bernie Sanders. He might regret that now: A new study just found that the “Green New Deal” would cost families in several swing states dearly.
The report from the fiscally conservative Competitive Enterprise Institute analyzed 11 different states and concluded that the Green New Deal would cost the average family in these states almost $75,000 in its first year and over $40,000 annually in future years. And get this: The report only analyzed increased energy costs from transforming to a “green” economy — so it doesn’t even include all the tax hikes families would face from the unrelated welfare expansions promised in the resolution, such as socialized healthcare for all.
How did CEI come up with these figures? Analysts looked at the Green New Deal’s promise to transition pretty much the entire economy away from fossil fuels and onto renewable energy sources, regardless of efficiency, and calculated how much that would cost. 
Turns out, reorganizing an entire economy through government force wouldn’t be cheap. Who knew?
“The Green New Deal is an unserious proposal that is at best negligent in its anticipation of transition costs and at worst a politically motivated policy whose creativity is outweighed by its enormous potential for economic destruction,” the Competitive Enterprise Institute analysis concluded.

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