2. GND is reverse goldilocks- it destroys the economy without solving climate

(Nicolas, Deputy Director, Thomas A. Roe Institute, Kevin, Principal Statistician, Data Scientist, and Research Fellow, , 8-16)

To assess the economic effects of such a scheme, we started by looking at a carbon tax – the most popular recommendation of those asking government to "nudge" us off of fossil fuels. Using the Energy Information Administration's model, we tested to see how high a carbon tax would have to go to meet the Green New Deal's emission targets. We ratcheted the tax up to $300 per ton, which dropped emissions 58% below 2010 levels – but not until 2050. That left us far short of reaching the deal's targets, but when we tried to push the tax higher, the model crashed. Clearly, the Green New Deal's emission targets are unrealistic. Yet the danger they pose to the economy are far too real. Before the model's lights went out, we found that a $300 per ton carbon tax and associated regulations would cost a family of four nearly $8,000 per year in income lost to higher energy costs, consumer prices and foregone wages. The 20-year cost totals $165,000. During that same 20-year period, the tax would siphon off an average of 1.1 million jobs per year and diminish GDP by a total of more than $15 trillion. That's a hefty price to pay for getting barely halfway to the net-zero emissions goal. Is it worth it? After all, proponents of eliminating conventional fuels argue that the cost of climate change dwarfs the cost of climate policy. However, it terms of "climate insurance," eliminating greenhouse gas emissions doesn't get you very far. To see if this is true, we turned to another tool: the Model for the Assessment of Greenhouse Gas Induced Climate Change (MAGICC). Developed at the National Center for Atmospheric Research, this model assesses how much increases and decreases in greenhouse gas trajectories will affect global temperatures and sea levels. Running this model, we found that overhauling America's economy – as envisioned in the Green New Deal – would abate global warming by approximately 0.2 degree Celsius by the year 2100. The reduction in sea-level rise would be less than 2 centimeters. In other words, the Green New Deal offers minimal climate improvement at impossibly high prices.