Mobile homes in a flooded neighborhood in Bonita Springs, Florida, on Sept. 12, 2017. Photographer: Daniel Acker/Bloomberg
Ten million Americans will be "substantially affected" by climate change by 2075, causing government disaster spending to jump, the Congressional Budget Office projected Thursday. But, instead of trying to cut carbon emissions, the federal government could make coastal residents bear more of the financial risks for living there, the office said...
(JobOne's Editors note: These numbers and dates are totally skewed. 326 million Americans are affected and effected RIGHT NOW by Climate change/Global warming. PERIOD!)
The five-fold increase in people affected will result from rising seas, more intense hurricanes and more development along the coast, the budget office said. It predicted that federal disaster spending will grow to $39 billion annually in current dollars, from $28 billion now.
But trying to curb emissions might not have much impact over that time period.
"A coordinated global effort could lessen hurricane damage between now and 2075, but the result would be uncertain," the independent budget analysts wrote. "Sea level rise is relatively insensitive to changes in emissions in the next few decades."
Nor is greater federal spending on protective measures, such as sea walls or expanded beaches, necessarily a cost-effective solution. The report noted that while past mitigation projects have reduced disaster costs, it’s hard to know which types of projects will save money, or how much. Moreover, there’s a risk that such projects "would encourage development in vulnerable areas."
A more effective way to cut federal spending, according to the report, would be to push individuals and local officials to carry more of the cost of their decisions about where to build. It suggests higher flood insurance premiums and making it more difficult to get federal disaster assistance.
"To the extent that households, businesses, and state and local governments in coastal areas do not bear the full cost of hurricane damage, such growth is subsidized by U.S. taxpayers," the budget office wrote. "Shifting costs would increase incentives for private and public entities to take measures to limit expected damage."
Sign up for the Global Warming Blog for free by clicking here. In your email you will receive critical news, research and the warning signs for the next global warming disaster.
Click here to learn how global warming has become irreversible and what you can do to protect your family and assets.
To share this blog post: Go to the original shorter version of this post. Look to lower right for the large green Share button.
To view our current agreement or disagreement with this blog article, click here.