Mr. President, here I am again with my trusty, battered chart by my side, this time here to talk about the looming costs and economic risks of climate upheaval. Almost exactly 5 years ago, I sent around a binder about this thick to all of my Senate colleagues in which I compiled some of the most compelling warnings about the looming climate economic crisis. I have just recently updated it and shared it with all of the Budget Committee members. It is now more like this thick, as the warnings just keep piling up. These warnings come from central bankers, economists, asset managers, insurance companies, investment banks, credit rating agencies, and leading management consultants--folks with a lot of credibility when it comes to economics, finance, corporate risk, and their effects on government spending and revenues--folks who often have a fiduciary obligation to get this right. The Budget Committee has started to dig into these warnings. We have just held the first two of a series of hearings on climate impacts to our Federal budget. Our second hearing, held earlier today, explored warnings of crashes in coastal property values amid rising seas and more powerful storms. One of our witnesses was Kate Michaud, the town manager of Warren, RI. And next time we will spell ``Rhode Island'' correctly. Warren is the smallest town in the smallest county of our smallest State.…
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