Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
It IS 2019 and monumental sequestration IS already a dire necessity. I recommended 5 and 10 year timelines because that is the minimum likely required to perform the transition. I do not see accomplishing those goals to be either plesant or graual. I just hope they are technically feasible. Outlawing fossil fuel after 2021 would just crash the economy. By 2026 it could be feasible if we have built enough renewable infrastructure. That would be $Trillions of infrastructure in five years.

We have been in the territory that requires massive removal of existing carbon from the ecosphere ever since we failed to act seriously in the 1990s. Meanwhle we still have a denialist federal government under Trump until at least Jan of 2021. IF we get a chance to even try saving the ecosphere we dare not blow it, crash the economy from a massive energy shock and risk a reaction that will surely doom subsequent generations.

We have to go carbon negative as soon as possible and keep right on getting more and more carbon negative as fast as we can. Even then there are no guarantees we will hold warming at even 2C. We have been screwed by denialist and gradualist politics.

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

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Jul 7th, 2019 at 02:58:31 AM EST
[ Parent ]
Budget Control Act of 2011 Reality Check: "hysteria" and magical MMT limit US policy options

US government faces potential default in Sept.

the Congressional Budget Office estimated that the government posted a budget deficit of $746 billion for the first nine months of fiscal year 2019, on track to approach or top $1 trillion. Revenues were $69 billion higher and federal spending was $208 billion higher over that period.
locating "sequestered" fossil fuel expenses and payments
The new estimate echoes warnings from Treasury Secretary Steven Mnuchin, who is the lead Trump administration negotiator in talks on a bipartisan deal to lift the government's borrowing cap and prevent automatic budget cuts from hitting the Pentagon and domestic agencies.
automatic Pentagon and "select" agencies top-up
Both Pelosi and McConnell vow that the government won't be allowed to default, but both also wish to link the debt limit issue with a concurrent effort to set new spending "caps" for the agency budgets that Congress sets every year.
The deadline for risking a debt default is imprecise since it depends on shifting revenue estimates and when the government needs to post major outlays. It's still most likely that the so-called X date wouldn't fall until October, but a shortfall in early September is at least possible.
US Joint Select Committee on Deficit Reduction: "Except for the five public hearings, the committee proceedings comprising the majority of the negotiations and counter-offers will remain sealed for 20 years under current rules". 2031

Diversity is the key to economic and political evolution.
by Cat on Tue Jul 9th, 2019 at 07:19:59 AM EST
[ Parent ]


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