Rookie Congresswoman and democratic socialist Alexandria Ocasio-Cortez has a “New Green Deal” that will cost way more than anyone projected.
The deal she’s pushing is projected to cost at least $18.26 trillion per year.
The same woman who once said “just pay for it” is now peddling her “New Green Deal” but the cost of it seems to be extraordinarily high and there could be numerous other things paid for that would benefit Americans now.
Even more shocking is that the cost of Ocasio-Cortez’s plan is higher than the nominal GDP of China and Japan combined.
To put it in perspective, China and Japan are the second and third largest economies on the planet.
PJ Media reported in their exclusive story:
“According to an eye-popping new report from Power the Future, provided exclusively to PJ Media, the “Green New Deal” proposed by democratic socialist Rep. Alexandria Ocasio-Cortez (D-N.Y.) would cost more than the annual gross domestic product (GDP) of every country on Earth, except the United States. It would cost 3,600 times the cost of the border wall, be enough to pay off nearly the entire national debt, meet the needs of all student loan debt 12 times over, and cover the cost of 1,300 aircraft carriers.
The “Green New Deal” will cost a projected $18.26 trillion per year — and that’s a conservative estimate.
According to Investopedia, that is larger than the annual nominal GDP of China (the world’s second-largest economy) and Japan (the world’s third-largest economy) combined. China’s nominal GDP ($12.01 trillion) and Japan’s nominal GDP ($4.87 trillion) add up to $16.88 trillion, more than $1 trillion less than the annual cost of the “Green New Deal.” Only the U.S., with its $19.39 trillion nominal GDP, still manages to produce more wealth than the “Green New Deal” would suck from the economy.”
In other words, this is one massive climate alarm program that likely slips in some redistribution of wealth that could potentially have America become the next Venezuela in regards to socialism.
Ocasio-Cortez did include one item that would be beneficial, but it’s something that America could do without the deal in general.
She proposed upgrading the U.S. power grid with a “smart power grid” and that’s fine because at some point older technology should always be replaced by modern equipment, especially if the replacement is more effective and efficient.
However, that doesn’t necessarily need to be part of the “Green New Deal.”
More specifically, “Ocasio-Cortez has also called for a smart power grid to replace the U.S. power grid, an estimated cost of $338 billion on the low end ($476 billion on the high end), according to the Electric Power Research Institute. This kind of transition may be a good idea in general, but it drives up the cost of the “Green New Deal” nonetheless.”
Another part of her proposal called for decarbonization of United States industries and it would cost about $11 trillion to $21 trillion each year through the year 2050 according to a study by McKinsey and Company.
That brings us back to her viral moment from earlier this year, where she literally said, “You just pay for it,” when asked about her Medicare for all plan.