Posted on 08/24/2022 12:03:18 PM PDT by Oldeconomybuyer
The Inflation Reduction Act, the most aggressive climate investment ever taken by Congress, could cut the social costs of climate change by up to $1.9 trillion by 2050, the White House said in an assessment on Tuesday.
The act, which the president signed into law earlier this month, will reduce costs related to rising temperatures, minimize property damage from sea level rise and other disasters and reduce health impacts such as premature death, the White House said.
The analysis by the Office of Management and Budget, which administers the federal budget, is the first published estimate of avoided climate-related social costs resulting from legislation. The social cost of carbon is an estimate of the economic costs that would occur from a future level of carbon pollution.
In the shorter term, the analysis projects the bill will save between roughly $34 billion and $84 billion each year by the end of the decade. The White House assessment is based on models developed by the climate policy think tank Energy Innovation, Princeton University and the research firm Rhodium Group.
Climate-related disasters could cost the U.S. federal budget roughly $2 trillion per year — a 7.1% loss in annual revenue — by the end of the century, according to a separate White House assessment. That report warned the government could spend an additional $25 billion to $128 billion each year on financial risks related to climate change.
(Excerpt) Read more at cnbc.com ...
Headline made me laugh out loud...
I’m still waiting for the unicorn pooping Skittles fedgov promised me.
5.56mm
Now they are just making sh!t up....
Wow what a load of BS.
Pure unadulterated crap.
Fake news!
Pretty sure I could get an even larger number - if I was pulling it out of my hindquarters the way they did.
36 quintillion statistics professors agree: when making up numbers be sure to use really big ones .
W H A T ?
Doubling and tripling down on idiot logic.
“The Inflation Reduction Act... could cut the social costs of climate change by up to $1.9 trillion “
Is there any evidence at at that there is any sea-level rise? Photos taken 100 years apart show the ocean at the same spot.
Shameless, depraved liars. They’re weakening the country financially in an effort to empower themselves.
The bill, as written, also probably prevents tooth decay, and cures ingrown toenails. A LOT of claims made for it, none of which shall ever be realized.
These occupants of the Oval Orifice make a lot of claims, most of which are equally as truthful. Climate Change is just part of the hoax.
Yes, but....it may be one of the things they point to when climate change catastrophe fails to materialize in the future.
One “cost” of global warming is the gubment having to pay farmers to keep land fallow because during the Modern Warm Period it’s too easy to grow more food than we need.
We live in an amazing age in an amazing universe!
Just imagine - As immense as our solar system is, and the tremendous natural power and forces at work on the planets to think that we can change the climate of the earth simply by paying more taxes to democrats is in itself amazing!
Carbon is not the problem - stupid politicians are
Avoiding an amorphous phenomenon is a pretty good Ponzi scheme.
Now? It has always been made up
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.