Our Democrat candidates for president running for the 2020 election want America to spend trillions of dollars on "green". Sanders, the most generous, wants to spend $16.3 Trillion dollars. By comparison, that's more than 3/4's of the entire US GDP for a year. That's more than the combined GDP of Germany, Japan, Italy, France and Britain. It's about a dozen times your AUstralia's GDP. The amount boggles the mind and rattles your pocketbook.
Beside all the spending on the programs you mentioned, think of all the money not spent on other things like cancer research, feeding the poor, housing the homeless. creating a national health program for everyone, etc. There's no discussion going on about this. We're going off hell bent on spending money without any thought of allocations. It's about politics.
Meanwhile, the US Federal government's deficit is already $1.07 Trillion dollars just for this year. Our debt is over $22 Trillion. Too bad we can't create electricity like we print money.
Alan,
I've always been amazed at the size of the US government's debt. A debt of 22 trillion represents about $67,000 for every man, woman and child in the USA, and that doesn't include the personal debt of US citizens, in terms of mortgages and credit card debt, and so on, which is currently about 13.3 trillion in total.
I can appreciate that major projects like building the great wall on the Mexican border, or building numerous additional dams to reduce flooding and trap water to reduce sea level rise, would increase that debt significantly, and therefore such projects are not likely to go ahead.
A similar situation, applies to most other countries, especially less developed countries. I guess we'll just have to 'muddle along' as usual.
