News

Economy & Business

AOC Green New Deal Promises ‘Economic Security for Those Unable or Unwilling to Work’

Congressional Democratic women including Rep. Alexandria Ocasio-Cortez (D., N.Y.) react during President Trump’s State of the Union address in Washington, D.C., February 5, 2019. (Jim Young/REUTERS)

Representatives Alexandria Ocasio-Cortez (D., N.Y.) and Ed Markey (D., Mass.) introduced a Green New Deal bill Thursday that, in addition to transitioning the U.S. entirely to renewable energy in ten years, promises to provide “economic security for those unable or unwilling to work.”

Since arriving in Washington in January, Ocasio-Cortez has prioritized the implementation of a Green New Deal and, in her frequent media appearances, has emphasized its potential as a means to pursue “economic justice” while drastically reducing carbon emissions over the next decade.

In drafting the proposal, Ocasio-Cortez and her fellow progressive lawmakers appear to have envisioned that the trillions of dollars in new government spending it would require would be financed entirely on credit.

“How will you pay for it,” reads a frequently-asked-questions document that accompanied the bill.“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.”

With the exception of the brief mention of a “carbon tax,” which the FAQ document claims “misses the point,” there is no mention of any additional taxes to cover the cost of spending.

In addition to providing “economic security for those unable or unwilling to work,” the plan also promises to create “millions of good, high-wage jobs” for willing Americans. Many of those new federal employees would presumably assist in the 14 major clean-energy-infrastructure projects the plan calls for.

In defending the breadth and scope of the proposal, which also includes 15 “social and economic justice and security” requirements, Ocasio-Cortez has likened it to the mobilization effort that preceded World War II, and conceded that it qualifies as a “moonshot” idea.

Send a tip to the news team at NR.

Something to Consider

If you enjoyed this article, we have a proposition for you: Join NRPLUS. Members get all of our content (including the magazine), no paywalls or content meters, an advertising-minimal experience, and unique access to our writers and editors (conference calls, social-media groups, etc.). And importantly, NRPLUS members help keep NR going. Consider it?

If you enjoyed this article, and were stimulated by its contents, we have a proposition for you: Join NRPLUS.

LEARN MORE

Most Popular

Culture

No One Is Ever Woke Enough

Closing out the week: The Harper’s letter calling for freedom of expression demonstrates that no one is ever “woke” enough, and that any institution that tries to make peace with the perpetually aggrieved eventually becomes dysfunctional; the value of Hamilton as a litmus test of the limits of cancel ... Read More
Culture

No One Is Ever Woke Enough

Closing out the week: The Harper’s letter calling for freedom of expression demonstrates that no one is ever “woke” enough, and that any institution that tries to make peace with the perpetually aggrieved eventually becomes dysfunctional; the value of Hamilton as a litmus test of the limits of cancel ... Read More
Culture

In Defense of Terry Crews

There are many worthy nominees for the craziest moment in the current cultural turmoil, but the controversy over tweets by actor Terry Crews deserves to be high on the list. In one of his offending tweets, Crews said on July 4th: https://twitter.com/terrycrews/status/1279493774679261185?s=21 It wasn’t ... Read More
Culture

In Defense of Terry Crews

There are many worthy nominees for the craziest moment in the current cultural turmoil, but the controversy over tweets by actor Terry Crews deserves to be high on the list. In one of his offending tweets, Crews said on July 4th: https://twitter.com/terrycrews/status/1279493774679261185?s=21 It wasn’t ... Read More

Mel Gibson’s Beastmode

Late-period Mel Gibson is probably the best Mel Gibson; in film after film after film he plays ornery old bastards with such conviction that each successive outing feels like a personal trip to the confessional. He doesn’t need the money anymore, and most of these roles are in indie movies that pay very little ... Read More

Mel Gibson’s Beastmode

Late-period Mel Gibson is probably the best Mel Gibson; in film after film after film he plays ornery old bastards with such conviction that each successive outing feels like a personal trip to the confessional. He doesn’t need the money anymore, and most of these roles are in indie movies that pay very little ... Read More
Culture

Mark Zuckerberg Is Right

Mark Zuckerberg clearly hasn’t gotten the memo. The founder of Facebook persists in defending free expression, even though free speech has fallen decidedly out of fashion. His reward for adhering to what once would have been a commonsensical, if not banal, view of the value of the free exchange of ideas ... Read More
Culture

Mark Zuckerberg Is Right

Mark Zuckerberg clearly hasn’t gotten the memo. The founder of Facebook persists in defending free expression, even though free speech has fallen decidedly out of fashion. His reward for adhering to what once would have been a commonsensical, if not banal, view of the value of the free exchange of ideas ... Read More