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It is possible that a Green New Deal would be deflationary, as has been suggested for Medicare for All. The cost of fossil fuels is heavily subsidized, so the loss of those subsidies could be seen as reduced government spending. That could be countered by shifting the subsidies to renewable energy - once the political obstacles to investment in renewable energy have been overcome. In any case we are still below what the government can safely spend and inflation is not a real threat, even if its phantom will always seem to spook the very rich. And that is before we consider how better to use the current 'tax expenditure' of >$1 Trillion/year on Trump's tax cut for the rich.

 Trillion/year on tax cuts for the rich.  

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Oct 25th, 2019 at 10:31:10 PM EST
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