"AI will change the economy: possibly increasing GDP growth by 1% per year, and possibly displacing many workers from their jobs"

I've read the claims about how AI will boost the economy, while at the same
time eliminating jobs. These seem to be 2 conflicting outcomes.

Currently, workers get paid, and with their paycheck they pay taxes, and spend money
on goods and services. So if AI makes them expendable,they are no longer working, they won't be paying taxes and spending money on goods and services. How exactly is that going to add growth to the GDP?

And AI is also going to raise the cost of electricity for households, possibly
steeply. For the average displaced American, cost of living goes up, while income
plummets.

Sounds like Americans are gonna get bent over again. I'm no Luddite, but
we better start electing some politicians that regulate AI and it's effect,
but instead we elect Politicians that can't climb into bed with the tech bro's
fast enough.