Study: Sanders’ Economic Plan Raises Federal Debt $18T

[WestVirginiaRebel]

The Blaze:

WASHINGTON (TheBlaze/AP) — 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.

 

The bottom line: 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.

 

As a result, Sanders would add $18 trillion to federal debt over a decade.

 

In a statement, the Sanders campaign said the analysis “wildly overestimates” the cost of the Vermont senator’s health care plan.

 

The campaign also said the analysis “significantly underestimates” health care savings through less bureaucracy, simplified paperwork and lower prescription drug prices, similar to what other countries with government-run systems have achieved.

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Let's be more like Europe...not!