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March 2019 – Economics Observations

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By: Dr. Ken Mayland
ClearView Economics, LLC

As an economist it is just too tempting to pass up commenting on the Green New Deal (GND). President Trump, in El Paso, said the plan "sounds like a high-school term paper that got a low mark." Perhaps for once, the President has understated the case. 

Here is what the framers of the GND seek to achieve. Within 10 years of enactment, the nation is to be fully powered by renewable energy sources. This excludes nuclear energy. This would require the virtual elimination of commercial airlines and internal combustion vehicles. What is more, the plan would necessitate the retrofitting of residential, commercial and industrial structures.

And did you catch the allusion to FDR’s New Deal? Well, the GND also is held to be a stimulus plan, as it attempts to address employment and inequality by guaranteeing jobs with “fair” pay, family and medical leave, paid vacations and retirement benefits. Furthermore, there would be universal health ca…