WASHINGTON - The effects of climate change since 2000 will slow US economic growth slightly over the next 30 years, adding another drag on an economy that will struggle to rebound from the coronavirus pandemic, the Congressional Budget Office said on Monday .
It projected that on net, climate change will reduce real US GDP by an average of 0.03 per cent annually from 2020 to 2050, compared to what US growth would have been if global climate conditions remained the same as they were in 2000. The findings were incorporated into the CBO's long-term budget outlook released on Monday, which projected that US federal government debt now is expected to reach nearly double the country's GDP output in 2050 as interest costs from increased borrowing run annual budget deficits higher.
Source: Energy Industry News (energyindustrynews.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's ByteDance seeks US$60 billion TikTok valuation in US deal: Bloomberg NewsOracle will take a 12.5per cent stake in TikTok Global and store all its U.S. user data in its cloud to comply with U.S. national security ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US to challenge judge's order that blocked US WeChat app store banThe U.S. Commerce Department said Monday it will challenge an order issued Sunday by a U.S. judge that blocked the department's order requiring ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China's ByteDance seeks US$60b TikTok valuation in US deal: ReportChina's ByteDance is seeking a valuation of $60 billion for TikTok as Oracle and Walmart take stakes in the short-video app's business to address ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Norway wealth fund may move US$50 billion into US stocks from EuropeNorway's US$1.15 trillion sovereign wealth fund should shift more assets into the United States and Canada, while cutting its holdings in Europe, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
World leaders mark UN at 75, challenged by Covid-19 pandemic, US-China tensionsUNITED NATIONS (REUTERS) - World leaders came together, virtually, on Monday (Sept 21) to mark the 75th anniversary of the United Nations, as the deadly coronavirus pandemic and tensions between the United States and China challenge the effectiveness and solidarity of the 193-member world body.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
US policymakers seize on FinCEN leaks to press for stepped up money-laundering fightAdvocates of legislation to beef up the U.S. fight against money laundering made a fresh push on Monday to get Congress to act, after new ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »