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.”
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.