William S Becker in The Hill:
With less than four months to go until the presidential election, the economy is delivering some good news. At this point two years ago, inflation was above 9 percent. Last month, it dipped to 3 percent, while wages continued to grow.
The bad news is that a new villain has arrived on the scene. Call it “climate inflation.”
Over a generation, we’ve seen global climate change progress from science to a heated political debate and now to a hotter world. It’s become a kitchen table issue that threatens the financial as well as physical security of America’s families.
Anyone worried about rising costs of living and higher taxes should be concerned. Yet, climate change is getting too little attention in presidential campaigns, especially since President Biden and Donald Trump have diametrically opposed views. Trump and his newly named running mateJD Vance, don’t believe global warming is a real issue, while Biden deserves credit for doing more to confront climate change than any president in American history
The physical risks of climate change are indisputable. Last year alone, 28 big weather disasters (each causing more than $1 billion in damages) cost a total of $93 billion, the highest on record. Over the last decade, big weather disasters caused more than $1.2 trillion in reported damages. The actual damages were significantly higher because the government doesn’t count disasters where damages are less than $1 billion.
Continue reading “Climate Inflation: The Carbon Tax You Are Already Paying”


