The drawbacks of the Green New Deal
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The Green New Deal will increase the deficit in the United States
A total change from fossil fuels to renewable energies would cost the United States trillions of dollars. This would only add to the deficit, and cuts to other vital programs would be necessary for the Green New Deal to become a reality.
Economy
Environment
Green New Deal
Politics
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The Argument
As of 2020, the United States has a deficit of 3.1 trillion dollars.[1] The Green New Deal, as proposed by Congressional Representative Alexandria Ocasio-Cortez and Massachusetts Senator Ed Markey, would cost the United States government approximately 10 trillion dollars.[2] This increase in federal spending would balloon the United States’ deficit.
Additionally, the Green New Deal would cost the American consumer much more than they currently pay. Energy bills for the average household would increase across the country. Families would also be left with the costs of converting to new and costly energy sources.[3] The Green New Deal would increase the United States' deficit and cost American families.
Counter arguments
While there is no denying that the Green New Deal's upfront costs would increase the United States' deficit, the long-term benefits would expand the US economy over the years and offset those deficit-increasing costs. By the United States making these changes alone, world expenses related to climate change would be reduced by approximately 3.3 trillion dollars annually.[4]
Additionally, the Green New Deal would net two million jobs in the United States.[5] That would lead to Americans having more money in their pocketbooks and more spending, which would boost the American economy and reduce the deficit.
Proponents
Premises
Rejecting the premises
References
- https://bipartisanpolicy.org/report/deficit-tracker/
- https://www.marketplace.org/2020/10/08/why-its-hard-to-put-a-price-tag-on-plans-like-the-green-new-deal/
- https://www.heritage.org/environment/commentary/its-not-just-about-cost-the-green-new-deal-bad-environmental-policy-too
- https://news.stanford.edu/2019/03/28/strengths-weaknesses-green-new-deal/
- https://news.stanford.edu/2019/03/28/strengths-weaknesses-green-new-deal/