The White House announced yesterday in its first analysis that floods, fires and droughts caused by climate change could reduce a large portion of the U.S. federal budget each year by the end of the century.

This is after the Office of Management and Budget Estimate, created by President Joe Biden in May, learned that the impact of climate change on the budget by the end of the century could lead to an annual loss of 7.1% in revenue, equivalent to $ 2. trillion. . dollars annually in dollar terms today.

“Climate change threatens communities and sectors across the country, especially with floods, droughts, heat waves, wildfires and hurricanes that affect the economy and life in the United States,” said the Bureau of Climate and Science. Officer Candice Walsing. Chief Economist Danny Yagan. Ordinary Americans.

And they added: “The damage that will occur in the future could outweigh the current damage if greenhouse gas emissions are not reduced.”

The analysis also showed that the federal government could spend an additional $ 25 billion to $ 128 billion annually on things like coastal disaster and flooding, crop safety and health care, and stopping wildfires and flooding in federal facility.