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Monday, November 29, 2021

The gigantic costs of doing nothing or very little

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Floods in New Orleans Credit: Wikipedia

I’ve been implementing or teaching public policy for five decades (OMG, has it really been that long?), And I never cease to be in awe of what happens when bean counters and columnists do it.

You’ll hear a lot in the next day or two about Congressional Budget Office estimates of the cost of Biden’s Build Back Better plan, along with how much will be covered by proposed taxes. Beware. Leaving aside the precision of these estimates, the exercise omits the cost of making any.

Tackling climate change will be expensive, but doing it any on climate change will cost much more. If we do not take ambitious action, untold numbers of lives will be lost and trillions of dollars will be spent facing the consequences of our failure.

Expanding Medicare would be expensive, but the price of not doing so will be in the stratosphere. The nation already pays more for health care per person and has […]

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