Bernie’s Bad Math
During the South Carolina Democratic debate, Senator Bernie Sanders had his penchant for socialism exposed by the moderators and fellow debaters. Sanders’ plan to tax the American People out the nose to pay for his nightmare of a health system is the biggest reason why he should never be elected to higher office. According to Forbes, Bernie is constantly trying to come up with excuses as to how he’s going to pay for his ridiculous plan, yet despite all of his proposed taxes, there’s still a giant hole.
Ben Ritz at Forbes reports:
Sanders and his surrogates regularly claim that critics are wrong to focus on how much Medicare for All increases government costs because it would reduce the total cost of health care. But independent analyses from the Urban Institute and Committee for a Responsible Federal Budget have concluded that even with the aggressive price controls he has proposed, Sanders’ Medicare-for-All framework would actually increase national health expenditures by up to $7 trillion. Sanders himself also admitted in a 60 minutes interview this weekend that his Medicare-for-All plan would likely cost around $30 trillion, yet the list of “options” Sanders has offered to pay for them (options which, it should be noted, he has never explicitly endorsed enacting together) would together cover less than 60 percent of that amount by the Sanders campaign’s own accounting.
In January, the Progressive Policy Institute published comprehensive cost estimates of the proposals offered by each of the leading candidates for president before the Iowa Caucus. After incorporating new proposals that Sanders has released since the publication of our analysis and minor methodological updates, PPI concludes that Sanders has now proposed over $53 trillion of new spending over the next 10 years – an amount that would roughly double the size of the federal government. Our estimate is, if anything, overly charitable to Sanders, as it accepts most of the Sanders campaign’s cost estimates outside of Medicare for All and assumes significant overlap in the costs of his proposed federal jobs guarantee and other spending proposals. Other analysts have estimated the total costs of Sanders’ proposals could be anywhere between $60 trillion and $100 trillion over 10 years.
Sanders’ proposed pay-fors don’t even come close to covering these costs. The document Sanders published last night, along with others released earlier in his campaign, claim to collectively raise less than $43 trillion in new revenue – meaning that he’s at least $10 trillion short. But the revenue projections Sanders uses for his tax proposals are well outside the mainstream of what independent analysts at the Committee for a Responsible Federal Budget, Congressional Budget Office, Tax Policy Center, Penn Wharton Budget Model, and others have estimated. After reconciling Sanders’ latest list of pay-fors with these independent estimates, PPI concludes that even if Congress were to adopt every single revenue option Sanders has offered for consideration, it would fall almost $25 trillion short of his proposed spending increases over the next decade – leaving a gap nearly equal to the total value of all goods and services produced by the U.S. economy in one year.
If Bernie is ever elected President, his radical socialist agenda will drive the economy into the ground. The great work President Trump has done these past three years will be wiped out thanks to careless policy designed to put the populace under more government control. Bernie Sanders can never become president, and it’s our job to make sure it never happens.