Can one policy initiative chip away
at three massive problems? While simplistic, there are three ways to minimize debt and
deficit: shrink government expenditures by cutting spending including benefits,
increase government income through economic growth or increasing taxes , or
some combination of the two (as Canada proved in 1995).
In the mid-1990s, the U.S. Economy
boomed. According to Brookings Institute, “The
1990s American boom… was led by private-sector spending and private-sector
employment… The cause of this acceleration in productivity is still the subject
of debate.” Many argue that the development of the internet and desk top
computer stoked the economy. “The 1990s were remembered as a time of strong
economic growth, steady job creation, low inflation, rising productivity,
economic boom, and a surging stock market that resulted from a combination of rapid technological changes and
sound central monetary policy.”
Greetings! Kermit the Frog here and today I'd like to tell
you a little bit about the color green. Do you know what's green? Well I am for
one thing. You see frogs are green, and I'm a frog, and that means I'm green.
In his book, Free to Choose, conservative economist Milton Friedman wrote, “Most
economists agree that a far better way to control pollution… [is] by imposing
effluent charges.” Specifically, the conservative
Nobel Prize winner wrote, “…instead of requiring firms to erect specific kinds
of water disposal plants or to achieve a specified level of water quality…impose
a tax of a specified amount per unit of effluent being discharged” (pg
217). “Like regulations, an effluent
charge automatically puts the cost on the users of the products responsible for
the pollution.”
Today, nearly every major
automobile manufacturer has declared a timeline for ending the use of the
gasoline propelled internal combustion engine including Ford, General Motors,
Mercedes Benz, Audi, Volvo, Toyota, Volkswagen, Porsche, Jaguar, and Land
Rover. American exhaust pipes are responsible for 28% of greenhouse emissions
(EPA, 2023).
It's not that easy bein' green, having to spend each day the
color of the leaves. When I think it could be nicer bein' red or yellow or
gold, or something much more colorful like that.
So where is this going?
Between 1996 and 2002, when the US
economy grew by approximately 4% annually, we learned that new technology
creates jobs and wealth, thereby growing the economy and increasing tax
revenues,.
On July 5th, a new record
was set for the hottest global temperature. In March 2023, UNL reported that 98% of
Nebraska was in a drought – literally hitting us in the breadbasket. That the
climate is heating up, and that human activity plays a significant role is well
documented. Today, 60% of our major trading partners are actively pursuing
green energy while the USA is losing ground in this tech space.
According to the International
Monetary Fund, ‘big oil” worldwide receives $5.8 trillion in government subsidies
every year. Reuters reports that oil companies doubled their annual profits to
$219 billion in 2019.
But
Green’s the color of spring. And green can be cool and friendly-like. And green
can be big like an ocean or important like a mountain, or tall like a tree.
Simply, the time has arrived to
stop being taken for a debt-driven subsidy ride by big oil and start discussing
how Green Technology can help transform our economy, mitigate global warming
trends, ease stress on agriculture, and reduce national debt and deficits. Yes,
zealots, partisans, and activists can be overly aggressive finger-waggers,
hyperbolic, and act with absurd bias. But, as the auto industry shows, private
companies and competitive economies are making long term plans to adapt to climate
change. There is no single silver bullet to solving these complex
problems but there are obvious incremental steps, including Green Energy, which
voters and political leaders need to discuss, debate, and put into motion.
I recall three moments in my life when
our nation came together; the assassination of John Kennedy in 1963, landing on
the moon in 1969, and the tragedy of September 11th. Perhaps being green finally makes sense since everyone
benefits and all we have to lose is everything.
When green is all there is to be. It could make you wonder
why. But why wonder? I’m green and it’ll don fine. It’s beautiful and I think
it’s what I want to be.