AOC's Green New Deal: FBN's Charles Payne breaks down the potential cost
Campus Reform Media Director Cabot Phillips on a new study which states that Rep. Alexandria Ocasio-Cortez’s (D-N.Y.) Green New Deal could cost as much as $93 trillion over 10 years. Phillips also discussed how Democrats are being pressured into supporting the deal.
Ninety-three trillion dollars.
That's how much Rep. Alexandria Ocasio-Cortez's controversial Green New Deal could cost over the next 10 years, according to a new report by the American Action Forum. The plan, which has been endorsed by several 2020 Democratic candidates, calls for clean energy, guaranteed jobs, universal health care and guaranteed housing, among other things. Many critics of the deal have called it unrealistic and fiscally impossible.
In an interview on Fox Business' “Making Money with Charles Payne” on Tuesday, Campus Reform media director Cabot Phillips said, "you could take the GDP of every single country on planet Earth and it still wouldn't equal 93 trillion dollars.”
Despite the American Action Forum's report, supporters of the Green New Deal argue that America cannot afford to not pass it. However, the breakdown of the deal may suggest it is more expensive than many thought.
For instance, clean energy would cost $5.4 trillion by 2029, while other parts of the deal such as universal healthcare and guaranteed jobs would cost $36 trillion and $44.6 trillion respectively.
While the Green New Deal has been backed by many of the 2020 Democratic candidates, Phillips says that it is only because there is pressure on candidates that they will be perceived unfavorably by the Democratic Party and be labeled as "climate denier" or "anti-environment" if they choose to oppose the deal.
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Phillips also noted that Democrats are trying to capitalize on the "socialist progressive wave" that is fueling the party’s base. He believes that if Democratic candidates choose to publicly support the deal, it can only negatively impact their candidacy in the general election.
"They're coming out, they're supporting it, it might give them a little bump right now, but come the general, if one of these candidates is in the general election and has endorsed this plan, I think it's going to be used as a weapon against them. It's going to hurt them in the long run.”