Study: Sanders’ economic plan piles $18 trillion on federal debt (health care system, security, democratic)

[tillman7]

Study: Sanders’ economic plan piles $18T on federal debt

By Ricardo Alonso-Zaldivar | AP May 9 at 5:15 PM


WASHINGTON — Sen. Bernie Sanders’ tax and spending proposals would provide new levels of health and education benefits for American families, but they’d also blow an $18-trillion hole in federal deficits, piling on so much debt they would damage the economy.

That sobering assessment comes from a joint analysis released Monday by the nonpartisan Urban-Brookings Tax Policy Center and the Urban Institute Health Policy Center, well-known Washington think tanks.

Democratic presidential candidate Sanders would raise taxes by more than $15 trillion over 10 years, with most of that paid by upper-income earners.

But that wouldn’t be enough to cover the cost of his proposed government-run health care system, along with free undergraduate college, enhanced Social Security, family and medical leave, among other new programs. The cost of the health care plan alone is more than $30 trillion, according to the study.
The bottom line: Sanders would add $18 trillion to federal debt over a decade. That’s about double the current total government debt of $19 trillion.

“The dramatic increase in government borrowing would crowd out private investment, raise interest rates, further increase government borrowing costs and retard economic growth,” the analysis concluded.

https://www.washingtonpost.com/busin...869_story.html

[AnywhereElse]

Did you compare what the article said to this: https://berniesanders.com/issues/how...his-proposals/ and what did you come with?

[PCALMike]

Oh, yes, the "non-partisan" (read status quo establishment) study....haha! Just more corporate shilling. The US spend $3.2 trillion on health care per year, 18% of GDP while other developed countries spend 9% and cover everyone, and yet these folks say we cant even save a dime and we are just stuck with the status quo, for-profit and inefficient system. How convenient for the insurance and drug companies! When every single country in the world can create a far more efficient health care system than the US based on government national health care, then so can the US.

And truth be told, this study does say that social democracy like health care, education and child care would benefit the 99% tremendously as the value of the services people would get would surpass the cost in terms of some higher taxes.

The poorest 1 in 5 households would receive benefits worth about $10,000 a year on average, while paying just $209 in additional taxes. Among this group, there are many households with people who need long-term care — for example, elderly women who have outlived their husbands and who are surviving on Social Security, and those who are disabled and cannot work.

They would benefit enormously from Sanders's proposal to include pay for long-term care through the federal government, which accounts for about 13 percent of the benefits the poorest 1 in 5 households would receive. In total, Sanders's proposals would effectively quadruple the incomes of this group on average.

The benefits would exceed the increased taxes for all but the richest 1 in 20 families. Even for the next richest 20th of the population, the new benefits would exceed their increased taxes by about $1,700 on average, or 0.9 percent of their average income.

[pknopp]

Rehashed and already debunked.