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CBO Projected Hurricane Economic Damage Report Assessing the Projected Economic Damage Caused By Hurricanes and Why It Will Increase June 6, 2016 Producer: Ben Booker Edited by: Katharine Conlon Director: Afzal Bari
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The Congressional Budget Office Released a Report Concluding Hurricane Damage Will Increase In the Future June 6, 2016 | Ben Booker Source: Congressional Budget Office, “Potential Increases in Hurricane Damage in the United States: Implications For the Federal Budget,” June 2, 2016. CBO HURRICANES Amount of Damage Caused By Hurricanes Measured in Billions of Dollars* All Costs Are Reflected in 2016 Dollar Amounts *Estimates are based off the current economy’s size, but would be adjusted upward because of economic growth and larger economy 1
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Hurricane Damage Will Increase By 40% As Percentage of GDP June 6, 2016 | Ben Booker Source: Congressional Budget Office, “Potential Increases in Hurricane Damage in the United States: Implications For the Federal Budget,” June 2, 2016. CBO HURRICANES Percentage of Total GDP That Hurricane Damage Will Equal 2
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The Amount of People Facing Substantial Hurricane Damage Will Increase 6x Its Current Size June 6, 2016 | Ben Booker Source: Congressional Budget Office, “Potential Increases in Hurricane Damage in the United States: Implications For the Federal Budget,” June 2, 2016. CBO HURRICANES Amount of People Who Live in Areas Substantially Impacted By Hurricanes In Millions of People 3
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Hurricane Damage Caused by More Coastal Development And Severe Weather From Climate Change CBO HURRICANES June 6, 2016 | Ben Booker Source: Congressional Budget Office, “Potential Increases in Hurricane Damage in the United States: Implications For the Federal Budget,” June 2, 2016; Noun Project: Peter van Driel, Robin Richards, Wilson Joseph, Gira Park. Main Factors Causing An Increase in Hurricane Damage Rising Sea Levels Frequency of More Intense Hurricanes Increased Populations on Coastal Areas Greater Per Capita Income in Coastal Areas Climate Change Factors Coastal Development Factors 4
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Climate Change Accounts For 45% of the Increased Hurricane Damage June 6, 2016 | Ben Booker Source: Congressional Budget Office, “Potential Increases in Hurricane Damage in the United States: Implications For the Federal Budget,” June 2, 2016. CBO HURRICANES Percentage of Increased Hurricane Damage Caused by Various Factors ■ Coastal Development ■ Climate Change 5
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OH WV VA PA NY ME NC SC GA TN KY IN MI WI MN IL LA TX OK ID NV OR WA CA AZ NM CO WY MT ND SD IA UT FL AR MO MS AL NE KS AK Gulf States and Northeast Are the Most Heavily Impacted by Hurricanes in the U.S. CBO HURRICANES June 6, 2016 | Ben Booker Source: Congressional Budget Office, “Potential Increases in Hurricane Damage in the United States: Implications For the Federal Budget,” June 2, 2016. Top Ten States That Are Most Heavily Impacted by Hurricanes Subtitle if necessary DE RI VT NH MA CT NJ MD DC State Ranking of Most Hurricane Damage 1.) Florida 2.) Texas 3.) Louisiana 4.) New York 5.) Mississippi 6.) South Carolina 7.) North Carolina 8.) New Jersey 9.) Massachusetts 10.) Georgia 6
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Florida Is the Heaviest Hit State With Over Half of All Hurricane Damage June 6, 2016 | Ben Booker Source: Congressional Budget Office, “Potential Increases in Hurricane Damage in the United States: Implications For the Federal Budget,” June 2, 2016. CBO HURRICANES Percentage of Total Hurricane Damage Per State ■ Florida ■ Texas ■ Louisiana ■ Other States 7
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