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Cost Quotes

“The full consequences of a default or even the serious prospect of default by the United States are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and on the value of the dollar in exchange markets. The Nation can ill afford to allow such a result. The risks, the cost, the disruptions, and the incalculable damage lead me to but one conclusion: the Senate must pass this legislation before the Congress adjourns.”

“Our approach to existential risks cannot be one of trial-and-error. There is no opportunity to learn from errors. The reactive approach - see what happens, limit damages, and learn from experience - is unworkable. Rather, we must take a proactive approach. This requires foresight to anticipate new types of threats and a willingness to take decisive preventive action and to bear the costs (moral and economic) of such actions.”

“There's real economic costs to climate change - So, Superstorm Sandy led to billions of dollars in damages. The fires out in the west, 70 million dollars a day are being spent in fighting fires that have clearly been exacerbated by drought and climate change. So, people have pointed out the true dollars and cents cost of inaction on climate change.”

“I don't want to exaggerate; having as many African American men as we've had in the criminal-justice system, and the amount of time it takes for the damage done by that to wash through our society and our communities, the disadvantages born out of kids being undiagnosed with mental-health problems early, or not getting the kind of exposure to reading and math when they're 4 or 5 or 6 years old, that carries a cost.”

“My evaluation of President George W. Bush is nothing personal. He's a lovely person. Sadly, I believe he will be remembered for taking us into war unnecessarily at the cost of thousands of American lives, injuries to tens of thousands of our troops, and trillions of dollars to our economy - enormous costs to our reputation, and undermining the capability of our military to protect us. That, I think, will be the overwhelming issue for which his presidency will be remembered: extensive damage to our country.”

“Every company that manufactures something is causing some damage either to the soil or water or air. Most companies treat these as externalities. But the growing movement of sustainability calls for companies to internalize these costs. Once companies do this, they will have a strong incentive to reduce their carbon footprint.”

“The reality is gas prices should be much more expensive then they are because we're not incorporating the true damage to the environment and the hidden costs of mining oil and transporting it to the U.S. Whenever you have an unpriced externality, you have a bit of a market failure, to the degree that eternality remains unpriced.”