LOOK AT THE BOTTOM LINE!!

Typically, the first question asked about The Green New Deal is: “Where will the money come from?” That’s the wrong question. We all know where the money will come from. It will come from the only legitimate source of new money, US Treasury checks, also the source of money for aircraft carriers.

Next, they say the GND will raise your taxes sky high and you can’t afford it. But that is a con man’s dishonest argument. The first thing to know about economics is that if something can be done technically, physically, it can be done financially. The GND is a major investment that must be evaluated like all investments: by looking at the bottom line. And your bottom line is not your tax bill. Your bottom line is your net worth as a result of the GND. Let’s take a look!

The annual cost of health care for 300 million Americans at an average cost of $10 thousand each is $3 trillion. If we include the annual cost of expense-paid university education for all qualified students and the annual cost of replacing fossil fuels with green energy, we have to add another trillion. That $4 trillion dollars will about double the current amount of annual Congressional spending. The right question to be asked is: “Where is all that money going?” The new $4 trillion will follow the path of last year’s $4 trillion. So, let’s have a look and see what actually happened last year.

When Congress spends $4 trillion, 10% or $400 billion enters domestic private bank accounts. Yes, deficit spending equals after-tax savings! That’s why World War II spending gave us 30 years of prosperity. War workers cashed in war bonds for cars, homes, and kids, creating all our beautiful suburbs that did not exist before the war. If Congress spends $8 trillion, much more than $800 billion will enter those accounts because of “tax bracket creep”. More rich suburbs are coming your way!

Our problem will not be money but rather physical resources. Whereas we probably have enough resources for expense-paid education for all but, for Medicare for All, there will be a scarcity of doctors, dentists, etc., until free education provides enough personnel, which could take ten years or more. For that reason, Medicare for All will have to be implemented gradually, beefing up our current Medicare bureaucracy. We would add children up to age 19 plus students. Their robust health will have a minimal impact. Annually, additional age groups can be phased in from both ends of the age spectrum. We should also expect that foreign personnel would be attracted to US wages and hasten the date of maturity of the new healthcare system.

Most of the rest of the GND is green energy. That will be a matter of training our millions of unemployed and under-employed, especially the millions of incarcerated for construction work. When material shortages arise and begin to cause harmful inflation, it may be necessary to cut production levels down from three shifts to two shifts or even to one shift, as easy as falling off a log. The most important principle is maximum use of resources, especially time. The Green New Deal is the moral equivalent of war. If we want to save our planet, we must use every minute of our lives.

Above all, we must stop thinking of money as a scarce resource. Where Congress is concerned, money is only a number to be used to indicate the quantity of effort Congress asks from the private sector. Our only problem is the threat of inflation. And then, it only means jogging instead of a sprinting.

© 2019 Marvin Sussman. All rights reserved. Search: YouTube.com for Marvin Sussman!