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ASTRONOMICAL Cost of AOC Green New Deal

To fund the Green New Deal in Pennsylvania, which would cost $2 quadrillion or $2,000,000,000,000,000, we would need 100 times the entire GDP of the United States, or 3000 times the entire GDP of Pennsylvania.

ASTRONOMICAL Cost of AOC Green New Deal 1 (Photo by Drew Angerer/Getty Images)

A new study released on Tuesday by the Competitive Enterprise Institute and Power the Future revealed the astronomical potential costs of the Green New Deal. The Daily Wire reported, “The state of Pennsylvania, for example, would need to spend $2 quadrillion to upgrade residential, commercial and industrial buildings as mandated in the GND, and Florida would need to pony up $1.4 quadrillion, according to the study.”

To fund the Green New Deal in Pennsylvania, which would cost $2 quadrillion or $2,000,000,000,000,000, we would need 100 times the entire GDP of the United States, or 3000 times the entire GDP of Pennsylvania. In Alaska, the Green New Deal would cost each household more than $100,000 in the first year alone, or nearly double the median income of the United States. As CEI President and CEO Kent Lassman said in a statement, “Perhaps that’s why exactly zero Senate Democrats, including the resolution’s 12 co-sponsors, voted for the Green New Deal when they had the chance.”

The study concluded, “The Green New Deal is a plan to radically reshape the American economy and the landscape of a household economy. Every aspect of how we live and work would be affected by the proposal. The preponderance of goods essential for agriculture, transportation, and construction would be replaced. In short, it is not realistic. However, national political figures and perhaps even a growing movement of fellow citizens would like to implement it as a policy agenda.”

This may be substantially more than previous estimates, like the estimates from the study conducted by the Congressional Budget Office, but the authors of the recent study admitted that it was an underestimation because it is “impossible to calculate the whole or maximum cost of the GND.”