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States that deny people's bodily autonomy limit "their ability to pursue the education and career options that are right for them, and to build financial stability," said the Institute for Women's Policy Research president.
Reproductive rights advocates and experts have long highlighted the dangers of abortion bans to people's health, but amid a wave of new state-level restrictions in the wake of Roe v. Wade's reversal, some have also recently emphasized the economic impact, as detailed in an analysis published Tuesday by the Institute for Women's Policy Research.
"IWPR's latest estimates show that states with the most restrictive abortion policies could cost the national economy nearly $68 billion annually in lost earnings, up from $64 billion in last year's estimate," according to the analysis. "Historically, legal abortion access has increased women's labor force participation and earnings. IWPR's analyses suggest that abortion restrictions continue to erode those gains nationwide, reducing women's labor force participation and earnings potential while weakening state and national economies in the process."
"Those losses—amounting to billions of dollars—could otherwise support what families actually need: affordable healthcare, caregiving, higher wages, business growth, and new jobs that strengthen local communities and state economies," the report notes. "This $68 billion estimate reflects only the impact of the most severe restrictions, including total bans and six-week gestational bans, that were in effect in 16 states in 2025."
The publication points out that "many other states may not have banned abortion outright, but still impose barriers that make abortion care harder to access, like waiting periods, mandated counseling, or targeted regulations on abortion providers that delay or deny care altogether. When accounting for all state-level restrictions on abortion access, combined with the federal funding prohibitions and the absence of federal protections, the annual average economic cost now exceeds $140 billion nationwide."
The overall figure is nearly $7 billion more than IWPR's estimate from last year. Putting that figure into context, the report explains that $7 billion "could fund Supplemental Nutrition Assistance Program (SNAP) benefits for about 1 million American families with children for an entire year. This is a striking figure considering the so-called 'One Big Beautiful Bill's' cuts to the program, which are projected to reduce or eliminate benefits for many low-income households."
Removing barriers to reproductive care on a national scale "could mean nearly 325,000 more women participating in the labor force each year, with the largest increases concentrated in states with some of the most restrictive abortion policies," IWPR estimated. For example, in Alabama, Kentucky, and Louisiana, their labor force participation could be over 1.3% higher, while in Mississippi, it could be up 1.5%.
If more women joined the workforce thanks to policies allowing reproductive freedom, IWPR projected that "national gross domestic product (GDP) could rise by 0.5%, and the economic gains would be largest in states such as Alabama, Arkansas, South Carolina, and West Virginia, which rank poorly on both abortion protections and per capita GDP. These states could potentially see their GDP grow by nearly 1% annually."
Like previous analyses, the publication also acknowledges that "Black and Latina women are more likely to experience the consequences of restrictive abortion policies and confront additional economic and structural barriers to accessing care that their White counterparts do not—even as abortion restrictions harm all women and the economy more broadly."
IWPR president and CEO Jamila K. Taylor stressed in a Tuesday statement that "this is fundamentally about human rights and economic justice."
"We know that legal access to abortion care increases women's autonomy to be able to participate in the labor force, which supports the stability of our entire economy," Taylor said. "When states deny people their bodily autonomy, they're also limiting their ability to pursue the education and career options that are right for them and to build financial stability for their family and community. Abortion restrictions don't just harm those who may become pregnant—they harm everyone."
President Donald Trump delivered mixed messages during the last campaign cycle: bragging about being the one to appoint the justices who helped reverse Roe with the Dobbs v. Jackson Women's Health Organization decision, but also suggesting that he wasn't in favor of a nationwide ban on abortion and that the issue doesn't really matter to Americans.
Since returning to the White House, the Republican and his allies in Congress have taken steps to reduce access to reproductive healthcare, and although the right-wing Supreme Court last month declined to restrict access to mifepristone, at least for now, Trump's Food and Drug Administration (FDA) is currently reviewing the medication, which is commonly used in abortion and miscarriage care.
Reproductive rights advocates have sounded the alarm over the FDA review. In response to reporting on it earlier this month, Planned Parenthood CEO Alexis McGill Johnson called it "a politically motivated farce."
"Mifepristone is safe and effective. We know it, the FDA knows it, and the more than 7.5 million people who've used mifepristone for abortion and miscarriage care over the past 25 years know it too," Johnson said. "But the Trump administration is bulldozing the overwhelming body of medical research and evidence to try to make it harder for everyone, everywhere to get an abortion. It's time for every American to take this threat seriously."
Current models "assume the future will behave like the past, even as we push the climate system into uncharted territory," said the lead author of a new report that's based on input from dozens of experts.
In a report published Thursday, UK experts highlighted the "growing gap between real-world climate risk and the economic analysis used to guide policy, supervision, and investment," while also warning that because the "window for preventing catastrophic warming" is narrowing, ambitious action "cannot await perfected models."
Various scientific institutions concur that 2025 was among the hottest years on record—and the ongoing failure of governments across the globe, particularly the Trump administration, to enact policies that would significantly cut planet-heating emissions from fossil fuels is pushing the Paris Agreement's 1.5°C and 2°C goals for this century further out of reach.
The new report from the University of Exeter and the think tank Carbon Tracker Initiative, titled Recalibrating Climate Risk, incorporates the expert opinions of 68 climate scientists from Australia, Austria, Canada, China, France, Germany, the Netherlands, Norway, Spain, Sweden, the United Kingdom, and the United States.
"Our expert elicitation reveals a fundamental disconnect: Climate scientists understand that beyond 2°C, we're not dealing with manageable economic adjustments," said Jesse Abrams, lead author and senior impact fellow at Exeter's Green Futures Solutions, in a statement.
"The climate scientists we surveyed were unambiguous," he explained. "Current economic models systematically underestimate climate damages because they can't capture what matters most—the cascading failures, threshold effects, and compounding shocks that define climate risk in a warmer world and could undermine the very foundations of economic growth."
Abrams said that "for financial institutions and policymakers relying on these models, this isn't a technical problem—it's a fundamental misreading of the risks we face, which current models miss entirely because they assume the future will behave like the past, even as we push the climate system into uncharted territory."
Current economic models miss the mark on climate risks, warning that catastrophic tipping points and extreme weather could crash the global economy, far worse than 2008.As said many times before delaying action will be far costlier than cutting emissions now.www.theguardian.com/environment/...
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— Ian Hall (@ianhall.bsky.social) February 5, 2026 at 12:46 AM
Communities around the world are already contending with devastating droughts, fires, and storms—and, as another report from researchers at Exeter and the UK's Institute and Faculty of Actuaries (IFOA) pointed out last month, "above 1.5°C, we enter the danger zone where multiple climate tipping points may be triggered, such as the collapse of ice sheets in Greenland and Antarctica, permafrost melt, Amazon dieback, and changes in ocean circulation."
The IFOA report "warned that when cascading and systemic risks are taken into account, warming of 2°C by 2050 could result in a 25% hit to projected GDP, rising to a halving of projected economic growth between 2070 and 2090," BusinessGreen editor-in-chief James Murray reported Thursday. "Similarly, a report from consultancy Boston Consulting Group calculated a third of the global economic output could be lost under a scenario where temperatures reach 3°C above preindustrial levels by 2100."
"The studies stand in stark contrast to some mainstream economic models that have suggested warming of 2°C or more will only reduce projected economic growth by a few percentage points—analyses that have been seized upon by opponents of climate action to argue that decarbonization policies can be dropped or delayed," Murray noted.
Abrams told the Guardian that some current economic models "are saying we'll have a 10% GDP loss at between 3°C and 4°C, but the physical climate scientists are saying the economy and society will cease to function as we know it. That's a big mismatch."
Your periodic reminder that the economic models that suggest climate change will knock a couple of percent of future GDP - models that are used widely by governments, investors, and businesses - are almost certainly complete garbage. www.businessgreen.com/news/4525211...
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— James Murray (@james-bg.bsky.social) February 5, 2026 at 7:08 AM
Laurie Laybourn, a Carbon Tracker board member and executive director of Strategic Climate Risks Initiative, cited another recent report that provides a bleak picture of the current moment and what lies ahead.
"As the UK government's landmark security assessment of ecosystem collapse showed last week, we are currently living through a paradigm shift in the speed, scale, and severity of risks driven by the climate-nature crisis," he said. "Yet, beyond this report, there has not been a corresponding paradigm shift in how regulators and government as a whole assess these risks."
"Instead, they're routinely underestimated if not missed entirely, meaning many regulations and government action are dangerously out of touch with reality," he continued. "This threatens disaster when that reality catches up with us. So, it's critical that policymakers change course, providing clear signals and guidance to markets that these risks should be priced accordingly, rather than downplayed."
And, as the experts emphasized Thursday, it's not just policymakers—investors are also still relying on "flawed economic advice," said Carbon Tracker founder and CEO Mark Campanale. The result is "widespread complacency... with many investors viewing climate scenario analysis as a tick-box disclosure exercise."
"Until the gap between scientists and economists' expectations of future climate damages is closed and government bodies act to ensure the integrity of advice upon which investment decisions are made," he added, "financial institutions will continue to chronically underprice climate risks—meaning that pension funds and taxpayers will remain dangerously exposed."
Hetal Patel, head of sustainable investment research at Phoenix Group, the UK's largest and retirement and savings business, said that her firm "supports the report's call for a more robust and coordinated approach to climate‑risk modeling. Underestimating physical risk doesn't just distort financial analysis and investment decisions, it underplays the real‑world consequences that will ultimately affect customer outcomes and society as a whole."
The new report stresses that addressing the "fundamental disconnect between what climate scientists understand about climate impacts and how these impacts are represented in economic models" would require "research investments spanning years," but rather than simply waiting for better modeling, decision-makers "must proceed on the basis of precautionary risk management, physical climate science, and observed impacts."
"I'm sure everyone would be happy to work another year if work meant getting paid millions of dollars to spout utter nonsense," responded one critic.
Medicare and Medicaid Administrator Mehmet Oz on Wednesday said that one of the ultimate goals of President Donald Trump's healthcare plan is to get Americans healthy enough so that they're able to work for at least one more year during their lives.
During an interview on Fox Business to tout Trump's recently unveiled and widely derided healthcare plan, Oz explained why it was important for Americans to be healthy so that they could be productive workers and contribute to US gross domestic product (GDP).
"A lot of people watching this segment are thinking we're talking about healthcare expenses," he said. "This is about the value to the US economy if we can get this right. If we can get the average person watching... to work one more year in their whole lifetime, just stay in your workplace for one more year, that is worth about $3 trillion to the US GDP."
"Wow!" exclaimed Fox Business host Maria Bartiromo.
Dr. Oz: "If we can get the average person to work one more year in their whole lifetime -- just stay in your workplace for one more year -- that is worth about $3 trillion to the US GDP. That's the productivity we would unleash ... if you're sick, you can't work." pic.twitter.com/9xixeDm2ux
— Aaron Rupar (@atrupar) January 21, 2026
"That's the productivity we would unleash of people feeling they have agency over their future, like they've got stuff they want to accomplish with their lives," Oz continued. "If you're sick, you can't work. So keep people healthy, they'll want to work, they'll want to produce, not just for one year but for many more... It's worth the investment to get that return."
"I love it," replied Bartiromo.
Oz's statement about getting Americans to work longer to improve national GDP was met with immediate criticism.
Journalist Brian Goldstone, who last year published a book focusing on Americans who are homeless despite having jobs, argued that Oz was simply clueless about the realities of working-class Americans.
"I recently met a widowed 71-year-old woman still working two jobs and living at an extended-stay hotel because even two jobs don't pay her enough to afford rent," he wrote in a post on Bluesky. "This is what 'one more year of work' looks like in America."
Economist Dean Baker of the Center for Economic and Policy Research noted that Oz doesn't seem to understand that most Americans don't have the kinds of cushy gigs he's enjoyed for decades.
"I'm sure everyone would be happy to work another year if work meant getting paid millions of dollars to spout utter nonsense on Fox, CBS, and other right-wing outlets," Baker remarked on X.
Baker also questioned the arithmetic behind Oz's claim about the vast benefits to the US economy of having everyone work for an extra year.
"I'm also curious where the hell he got the $3 trillion (10% of GDP)," he wrote. "I gather it is a Trump number, came straight out of his rear end."
Democratic political strategist Dan Kanninen said that Oz came off as utterly tone deaf about Americans' lives, and sarcastically encouraged the Trump administration to "put Dr. Oz and his 'Matrix' vision of the future where we all batteries for capital on the airwaves as much as possible."
Dell Cameron, a senior writer at Wired, argued that Oz's remarks were a damning indictment of former talkshow host Oprah Winfrey, who regularly featured purported experts of dubious credibility, including Oz, Phil McGraw, and João Teixeira de Faria, a Brazilian "faith healer" and convicted rapist currently serving a lifetime prison sentence.
"Hard to pin down which of the medical hacks platformed by Oprah's network has gone on to do the most harm, which is saying a lot since one is a cult leader who raped hundreds of women," he mused. "Then again, [Oz] is one of the most influential quacks of all time."