Climate Change Will Bankrupt the Country
prospect.org · Jun 20
Climate-fueled disasters cost America almost a trillion dollars over the last year, far more than economists predicted.





#ClimateChange Will #Bankrupt the Country. #Climate fueled #disasters cost #America almost a trillion dollars over the last year, far more than #economists predicted. #housing #homes #insurance #disasters #weather #economy #energy https://prospect.org/environment/2025-06-20-climate-change-will-bankrupt-country/
#ClimateChange Will #Bankrupt the Country. #Climate fueled #disasters cost #America almost a trillion dollars over the last year, far more than #economists predicted. #housing #homes #insurance #disasters #weather #economy #energy https://prospect.org/environment/2025-06-20-climate-change-will-bankrupt-country/
We are in denial about how the world has already changed.
Climate disasters are *already* costing us.
Housing insurance is *untenable* in the face of escalating damage due to climate disasters.
Fascism is being used to consolidate power before it all goes to hell.
https://prospect.org/environment/2025-06-20-climate-change-will-bankrupt-country/
Nordhaus was wrong.
"However you slice it, 3 percent of GDP is wildly outside the range of [Nordhaus'] 2018 DICE model, which predicts a hit of just 0.5 percent of GDP from 1.47 degrees Celsius of warming (the global average of 2024). If we’re off by a factor of six in the world’s second-largest economy, then something is seriously amiss."
https://prospect.org/environment/2025-06-20-climate-change-will-bankrupt-country/
Nordhaus was wrong.
"However you slice it, 3 percent of GDP is wildly outside the range of [Nordhaus'] 2018 DICE model, which predicts a hit of just 0.5 percent of GDP from 1.47 degrees Celsius of warming (the global average of 2024). If we’re off by a factor of six in the world’s second-largest economy, then something is seriously amiss."
https://prospect.org/environment/2025-06-20-climate-change-will-bankrupt-country/
We are in denial about how the world has already changed.
Climate disasters are *already* costing us.
Housing insurance is *untenable* in the face of escalating damage due to climate disasters.
Fascism is being used to consolidate power before it all goes to hell.
https://prospect.org/environment/2025-06-20-climate-change-will-bankrupt-country/
https://prospect.org/environment/2025-06-20-climate-change-will-bankrupt-country/
Renewable energy is now the cheapest kind of energy, and it’s getting cheaper every year
We are in denial about how the world has already changed.
Climate disasters are *already* costing us.
Housing insurance is *untenable* in the face of escalating damage due to climate disasters.
Fascism is being used to consolidate power before it all goes to hell.
https://prospect.org/environment/2025-06-20-climate-change-will-bankrupt-country/
'The economic damage of climate change is already much, much worse' than predicted, 'and the economic cost of policy to fix climate change is actually negative.'
https://prospect.org/environment/2025-06-20-climate-change-will-bankrupt-country/