"Floods, drought, wildfires and hurricanes made worse by climate change could cost the U.S. federal budget about $2 trillion each year — a 7.1% loss in annual revenue — by the end of the century, the White House said in an assessment on Monday.
The analysis by the Office of Management and Budget, which administers the federal budget, also warned the U.S. government could spend an additional $25 billion to $128 billion each year in areas such as coastal disaster relief, flood insurance, crop insurance, health-care insurance, wildland fire suppression and flooding at federal facilities.
“The fiscal risk of climate change is immense,” Candace Vahlsing, the OMB’s associate director for climate, and Danny Yagan, its chief economist, wrote in a blog published on Monday."
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