Green boondoggle awash in red ink
Freshman Democratic Rep. Alexandria Ocasio-Cortez's plan for a "green new deal" had a bumpy rollout last week. Putting aside the violence this plan would do to our personal and economic freedoms, there were the matter of the FAQ page.
To call it a hot mess is being kind (so bad, that Ocasio-Cortz removed the page from her website...but not before it was saved elsewhere). But it did offer several glimpses behind the socialist curtain. Consider this section about how this new deal gets paid for:
How will you pay for it?
The same way we paid for the New Deal, the 2008 bank bailout and extended quantitative easing programs. The same way we paid for World War II and all our current wars. The Federal Reserve can extend credit to power these projects and investments and new public banks can be created to extend credit. There is also space for the government to take an equity stake in projects to get a return on investment. At the end of the day, this is an investment in our economy that should grow our wealth as a nation, so the question isn’t how will we pay for it, but what will we do with our new shared prosperity.
In other words "print money."
That's a recipe for disaster. But paying for it is merely one part of the much larger effort to bring the American economy under state control...all to save the planet, of course. Will House Speaker Nancy Pelosi bring it to a vote?
House Speaker Nancy Pelosi, D-Calif., hasn’t promised it will get time on the floor, and as of last week, she hadn't even read the ambitious resolution.
House Rules Committee Chairman Jim McGovern, D-Mass., who helps to determine the floor schedule and debate rules, said leaders would wait to see how many lawmakers sign on to the bill before deciding whether to bring it to the floor.
“Let’s see how the co-sponsorship goes,” said McGovern, who supports the resolution.
McGovern said Ocasio-Cortez, D-N.Y., has not yet asked for a floor vote “because we are trying to get co-sponsors and see where people are, but my hope is it will come to the floor.”
That isn’t likely, however. Most Republicans have have denounced the the plan as unrealistic and astronomically expensive and full of ideas that would destroy the U.S. economy.
The GOP isn't wrong...and even Nancy Pelosi can see it, too.