Posted on 10/12/2024 12:48:16 PM PDT by E. Pluribus Unum
A second catastrophic hurricane in as many weeks has forced the U.S. government to grapple with a harsh reality: Climate calamities are becoming more frequent, deadly and costly in a country already facing massive fiscal challenges.
The earliest estimates suggest the latest storm, Hurricane Milton, may have unleashed roughly $50 billion in damage across Florida, destroying countless homes, businesses and critical infrastructure that will need to be repaired or replaced, probably with the help of urgently needed federal aid.
But Milton is only the most recent extreme weather event in a nation that experiences on average a billion-dollar climate disaster roughly every three weeks, according to some federal estimates. As these storms, droughts, wildfires and floods strike with greater frequency and intensity, the work to rebuild after them has grown more expensive, too. That has exacerbated the many financial strains on the federal government at a time when the national debt exceeds $35 trillion.
“I think the cost of climate [change] is increasingly a threat to our already very fragile fiscal outlook,” said Mark Zandi, chief economist of Moody’s Analytics. Factoring in the prospect that the government must spend “tens of billions or hundreds of billions more each year to help mitigate the fallout of climate events,” he added, “the outlook looks even darker.”
“It’s one more reason to be nervous about our fiscal future unless we make some changes,” Zandi said.
The nation’s souring fiscal health is the result of many factors, including increased spending, a rapidly aging population and inadequate tax revenue, especially after the tax cuts adopted under Donald Trump’s administration. Generally, budget experts agree that climate change threatens to add to these woes, harming economic output while forcing the government to spend more, and generate less, as it grapples with the consequences...
(Excerpt) Read more at washingtonpost.com ...
The cost of the “remedy” is far higher than what these disasters will cost.
Right.
How do you remedy a hoax?
Out of control inflation is causing them to be more costly, democrats.
Climate change is here have no doubt
Too much rain too much drought
Run in circles scream and shout
It’ll cook your brain and freeze your feet
Too much rain too much heat
Snow coming soon no relief in sight
Tornados and floods you better run for your life
Climate change is here better hide in fear
they need more money or it gets severe
Hurricanes on the way they’re comin soon
You’re all going to die in the next typhoon
Too much rain too much drought
Run in circles scream and shout
Love it!
More people. More things to hit. More living by the coast. More inflation. That’s the cause.
The storms aren’t getting any worse. There’s just a lot more stuff to destroy now. Insurance costs aren’t a barometer of climate change.
Man made climate change is a lie.
Tony should try the internets.
Go Figure: Federal Revenues Hit All-Time Highs Under Trump Tax Cuts
https://www.investors.com/politics/editorials/trump-tax-cuts-federal-revenues-deficits/
Yet still, they spend billions to bring illegals here and put them into brand new housing that was built for homeless veterans. Just heard that story out of Maine the other day.
Hurricanes have been pounding the US coastline for hundreds of years some even more severe than Milton and long before the human caused global warming /climate change hoax.
I’m certain “climate change” is our government F’ing with the weather.
It’s not climate change. It’s weather.
Exactly.
That’s right!
I am at the beach at weekend.
While I see a sea wall, I also see a lot of new construction along the shore. People are tearing down the old homes and replacing them with huge new ones that will sell for millions of dollars.
They don’t seem too concerned with the rising sea levels. We “should” be seeing more sea walls erected that are ten feet higher than the existing barriers.
The climate hasn’t changed. We just have a lot more people living near the coasts. Mostly, because we haven’t been having as many hurricanes
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