SHOCKER: Here’s What Can You Buy for What in the Green New Deal

The estimated cost for the Green New Deal is 93 trillion dollars. What can that buy and would something else be more important that the GND ?  Mitch McConnell said that for the cost of the GND, the government could buy every single one of the 329 million people in America could get a Ferrari.

From check your fact

Claim 1: “For the comparatively cheap price of just $66 trillion, I’m told the government could buy every American a Ferrari.”

The Portofino, Ferrari’s entry-level car, starts at $214,533, according to Car and Driver magazine. Nearly 329 million people live in the U.S., though not all are of legal driving age. Buying a brand-new Portofino for every single American would cost around $70.5 trillion, slightly higher than McConnell’s $66 trillion estimates.

Claim 2: “$93 trillion is more than every dollar our federal government has spent in its entire history to date, combined.”

From 1789 through 2017, total outlays by the federal government were $83.2 trillion, according to historical tables from the Office of Management and Budget. The government spent an additional $4.1 trillion in 2018.

Claim 3: “It’s more than the combined annual GDP of every nation on Earth.”

Worldwide, gross domestic product (GDP) was nearly $81 trillion in 2017, according to the World Bank. The U.S. had a GDP of $19.4 trillion, the highest in the world. Trailing the U.S. are China, Japan and Germany.

Claim 4: “This amount of money could rebuild the entire interstate highway system every single year, just for the heck of it, for 250 years. And you’d still have a little left over.”

McConnell based this claim on an estimate by Republican Sen. Roy Blunt, whose office calculated that it would cost $360 billion to rebuild the interstate highway system. Starting with the highway system’s original cost – estimated at $128.9 billion in 1991, or a bit less than $240 billion in U.S. dollars today – his office took into account estimates of how much it would cost to rebuild the highway system today.

Recent estimates were around $500 billion, his office said, so the $360 billion represents a midpoint between the two figures. At $360 billion a year, rebuilding the highway system 250 times over would cost $90 trillion.

Robert W. Poole Jr. of the libertarian Reason Institute estimated in 2013 that the cost of reconstructing the entire highway system would be $589 billion in 2010 dollars. To rebuild the highway system each year for 250 years at that price tag, it would cost $147.3 trillion, more than AFF’s upper bound estimate of $93 trillion.

Okay, so we can only rebuild out interstate highways every year for only about 140 years. 

Send this to a friend