Climate Change: US Taxpayers Paying Huge
Extreme weather caused by climate change is fundamentally causing the US taxpayers to pay high and still growing costs. The U.S. Government Accountability Office warned in February that climate change is a “significant financial risk to the federal government.” It threatens everything, not just federal lands and buildings, but food, flood and crop insurance and disaster relief.
Here are some examples of the escalating costs Americans are already bearing:
- The United States experiencing another devastating drought and federal crop insurance losses which cause to $16B payouts last year 2012.
- The National Flood Insurance Program (NFIP) is staggering under massive losses after Superstorm Sandy.
- Wyoming and Montana spent more than $90 million of state money fighting wildfires in 2012.
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