The White House is pushing an infrastructure bill that could reshape the discussion around capitalism as it seems to reestablish the federal government as a primary driver of how the economy should grow and function. In addition to traditional infrastructure projects, Biden’s $2.25 trillion American Jobs Plan would make government investments in broadband, electric vehicles, climate change, elderly care, child benefits, housing and developing future technologies. It would redefine classic infrastructure projects to include investments in workers and families paid for by tax hikes on corporations. ...
“Every corner of the country is going to be touched by this in some way,” said Mark Zandi, chief economist at Moody’s Analytics.
Morano: "Ultimately, what it is going to do, it is leading to lower economic growth, which you would intuitively think, why would they want to do that? I have to go chapters in the book “Green Fraud,” Tucker, and why they want low economic growth. They love the lockdowns for this reason. They call it degrowth, planned recessions, this is that first step to transfer private equity, private finance into government hands, and this is a big step."
Mag: "Yes, the $2 trillion proposal President Joe Biden is unveiling Wednesday would fix roads, transit stations, and bridges. But to simply call it an infrastructure plan understates its ambitions.
It’s the closest we’ve come to a realization of the Green New Deal, an ambitious collection of progressive proposals to combat climate change, racial injustice, and gender inequality as much as one to upgrade asphalt."
President says new plan will allow ‘transformational progress’ by bolstering investments in clean energy and electric vehicles ... Joe Biden has said his new infrastructure plan will allow “transformational progress in our ability to tackle climate change” by bolstering investments in clean energy, electric vehicles and building homes resilient to threats posed by the climate crisis. The $2tn plan will make “crumbling” American infrastructure more robust to extreme weather events, the US president said in a speech on Wednesday, while providing funds to “build a modern, resilient and fully clean grid”. Biden said that tax incentives should allow “all Americans to afford clean electric vehicles” and workers will be able to “seize amazing opportunities in a clean energy future”. ...
Biden opened his White House term with a cavalcade of executive actions to begin the gargantuan task of shifting the US to net zero greenhouse gas emissions by 2050 and the new $2tn package, known as the American Jobs Plan, is the first indication of the scale of spending that will be required to reshape day-to-day life in order to avert disastrous climate change. ... The package includes a major boost to clean energy research and development, as well as a proposal for a clean electricity standard – a mandate for utilities to phase out fossil fuels use across the grid to zero over the next 15 years that Friedmann said will be a “vital” element of eliminating planet-hearting emissions.
“I think it’s a step towards our vision of a Green New Deal,” Ellen Sciales, a spokesperson for the youth climate group Sunrise Movement, told BuzzFeed News. “But the truth is this does not meet the scale and the scope of what we need to meet the true scale and urgency of the climate crisis.” This is just Biden’s latest climate move, following the US rejoining the Paris climate agreement, pausing new oil and gas leasing on public lands, and creating high-level climate roles, task forces, and committees across the federal government. ... Those earlier moves were executive orders largely focused on the steps Biden could take alone. In contrast, “The American Jobs Plan” is a proposal for Congress to green-light grants, tax breaks, job creation programs, and more to help the public, especially disadvantaged communities, prepare for and respond to the climate crisis. “The plan targets 40% of the benefits of climate and clean infrastructure investments to disadvantaged communities,” according to a White House fact sheet. “And, the plan invests in rural communities and communities impacted by the market-based transition to clean energy.”
"The probability of a 100-year flood event is now so rare it has only been occurring once every 358 years on average since 1970." ...
"In present-day conditions, 100-year flood events have globally become so rare that they now (since 1970) only occur once every 358 years on average. And 50-year floods only occur once every 152 years on average.
With the cooler climate conditions of the 1970s, there was a 45% probability that a 50-year flood would occur. In today’s conditions, however, there is only an 18% chance that a 50-year flood will occur."
"I regard consensus science as an extremely pernicious development that ought to be stopped cold in its tracks. Historically the claim of consensus has been the first refuge of scoundrels; it is a way to avoid debate by claiming that the matter is already settled." — Michael Crichton