Climate change could cost US budget $2tn a year

The White House said in its first assessment that_ Flood_ fire_ and drought fueled by climate change could take a massive bite out of the U.S. federal budget per year.

The Office of Management and Budget assessment found the upper range of climate change's hit to the budget by the end of the century could total a loss of periodic profit of 7.1%_ or $2 trillion per year in today's dollars rate. Climate change threatens communities and sectors throughout the country_ including floods_ droughts_ extreme heat_ wildfires_ and hurricanes (affecting) the US economy.

The analysis found_ the federal government could spend a fresh $25bn to $128bn per year on effects like littoral disaster relief_ flood_ crop_ and healthcare_ repression of wildfire and flooding.

Just last year_ a record-breaking heat surge and drought in the western United States sparked two enormous wildfires_ the largest of history (of the two states) that swept through California and Oregon. U.S. military bases_ have suffered billions of dollars in damage in recent times from natural disasters like floods and hurricanes_ caused by climate change. Biden s budget plan calls for nearly$ 45bn to fight climate change in FY 2023_ an increase of about 60 per cent over FY 2021.