Bernie Sanders' proposals would cost $97 trillion

zippy2006

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"All told, Sanders’s current plans would cost as much as $97.5 trillion over the next decade, and total government spending at all levels would surge to as high as 70 percent of gross domestic product. Approximately half of the American workforce would be employed by the government. The ten-year budget deficit would approach $90 trillion, with average annual deficits exceeding 30 percent of GDP."

The Unaffordable Candidate

:swoon:

The economists are slack-jawed:
  • Daron Acemoglu of M.I.T.: Sanders' "economists don't understand basic economics. They are not just dangerous, they are clueless" (NY Times).
  • Jagdish Bhagwati of Columbia: Sanders' thinking displays little "understanding of the complexity of the issues he raises" (NY Times).
  • David Autor or M.I.T.: Sanders' platform is chock full of fuzzy math and wishful thinking (NY Times).
  • Obama and Clinton administration economists: "These claims undermine the credibility of the progressive economic agenda and make it that much more difficult to challenge the unrealistic claims made by Republican candidates" (Open Letter).
 
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Silmarien

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If he's elected, I don't think he would ever get any of if through even a Democratic Congress, so I can't see him doing much more than just popularizing modern socialism for four years. (Or at least what I hope is modern socialism.)
 
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carl_b_me

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"All told, Sanders’s current plans would cost as much as $97.5 trillion over the next decade, and total government spending at all levels would surge to as high as 70 percent of gross domestic product. Approximately half of the American workforce would be employed by the government. The ten-year budget deficit would approach $90 trillion, with average annual deficits exceeding 30 percent of GDP."

The Unaffordable Candidate

:swoon:

The economists are slack-jawed:
  • Daron Acemoglu of M.I.T.: Sanders' "economists don't understand basic economics. They are not just dangerous, they are clueless" (NY Times).
  • Jagdish Bhagwati of Columbia: Sanders' thinking displays little "understanding of the complexity of the issues he raises" (NY Times).
  • David Autor or M.I.T.: Sanders' platform is chock full of fuzzy math and wishful thinking (NY Times).
  • Obama and Clinton administration economists: "These claims undermine the credibility of the progressive economic agenda and make it that much more difficult to challenge the unrealistic claims made by Republican candidates" (Open Letter).

Imagine if we had "free healthcare" (that some of us didn't earn) which drives up our taxes and when you add the fact that the insurance companies will start to feel the pinch it will probably drive up our insurance premiums and it's just craziness!
 
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St_Worm2

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Hello @zippy2006, we took in nearly 4 Trillion in Federal taxes last year, while the National Debt increased to nearly 23.3 Trillion (as of today). Why do you think Bernie's plan (which would add an additional 9.7 Trillion per year in spending) would be a problem for us :scratch:

As Bernie said the other night, "I don't know what it will cost, nobody does. And who cares" (I suppose implying that what he wants to do is necessary, so the cost of it really doesn't matter).

--David
p.s. - for a little perspective, I remember listening to a financial counselor on the radio, Larry Burkett, back in the 90's, who gave some interesting examples of what a ~trillion~ dollars amounts to. They were all pretty outrageous, but my favorite one was this, "if you started a business the year that Jesus was born, and your business ended up losing 1 million dollars per day, 365 days per year, you would still have 700 years to go (beyond the 1990's) before your business would lose its first trillion dollars" :eek:
 
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dqhall

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"All told, Sanders’s current plans would cost as much as $97.5 trillion over the next decade, and total government spending at all levels would surge to as high as 70 percent of gross domestic product. Approximately half of the American workforce would be employed by the government. The ten-year budget deficit would approach $90 trillion, with average annual deficits exceeding 30 percent of GDP."

The Unaffordable Candidate

:swoon:

The economists are slack-jawed:
  • Daron Acemoglu of M.I.T.: Sanders' "economists don't understand basic economics. They are not just dangerous, they are clueless" (NY Times).
  • Jagdish Bhagwati of Columbia: Sanders' thinking displays little "understanding of the complexity of the issues he raises" (NY Times).
  • David Autor or M.I.T.: Sanders' platform is chock full of fuzzy math and wishful thinking (NY Times).
  • Obama and Clinton administration economists: "These claims undermine the credibility of the progressive economic agenda and make it that much more difficult to challenge the unrealistic claims made by Republican candidates" (Open Letter).
Bill Clinton was the only president in decades to balance a budget. They impeached him for lying. How many lies has 45 told? He complained about Obama not balancing the budget. Now that he is president he has a worse deficit than Obama in his final year. I think Bernie Sanders is not practical. His plan to ban fracking might cut 2/3 of our natural gas supplies. That would cause power outages. It would cut almost half our oil supplies and likely cause a global recession with long lines at the gas pumps.
 
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archer75

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Imagine if we had "free healthcare" (that some of us didn't earn) which drives up our taxes and when you add the fact that the insurance companies will start to feel the pinch it will probably drive up our insurance premiums and it's just craziness!
If we had single-payer healthcare, we wouldn't need insurance. So we wouldn't pay premiums.
 
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carl_b_me

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If we had single-payer healthcare, we wouldn't need insurance. So we wouldn't pay premiums.

That sounds bizarre! I've always paid insurance premiums. Is this like "If you like your doctor you can keep him"?

And really, why would I WANT to give up my insurance? It's been really good to me.
 
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archer75

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That sounds bizarre! I've always paid insurance premiums. Is this like "If you like your doctor you can keep him"?

And really, why would I WANT to give up my insurance? It's been really good to me.
I don't follow. Are you joking?

If we had single-payer healthcare...all the bills for services you receive would be paid by the state. You wouldn't see the bills. There wouldn't be copays, deductibles, anything. You would go to the doctor when necessary, get treatment when necessary, that would be it. You leave the office and go home.

What would you have insurance for? There would be no purpose.
 
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zippy2006

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Hello @zippy2006, we took in nearly 4 Trillion in Federal taxes last year, while the National Debt increased to nearly 23.3 Trillion (as of today). Why do you think Bernie's plan (which would add an additional 9.7 Trillion per year in spending) would be a problem for us :scratch:

The U.S. federal budget deficit for 2020 is $1.08 trillion. Under Bernie's plan it would rise to about $9 trillion (after his additional taxes are subtracted). Going from a $1 trillion to a $9 trillion annual deficit is "a problem for us." :)

The problem with your math is that you compared a national debt accumulated over decades to Bernie's annual spending. You would do better to compare apples to apples. Bernie would bump the national debt from $23.3 trillion to $113.3 trillion in a mere 10 years.
 
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MorkandMindy

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That's three down for being crazy: Elizabeth Warren and her money savings scheme on health care that requires and extra... 52 Trillion dollars over the next decade, Bernie's mad scheme to blow 80 Trillion on cooling down the Sun over 10 years, and Joe Biden's plan to get 740 million mothers back into the workforce.
 
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carl_b_me

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I don't follow. Are you joking?

If we had single-payer healthcare...all the bills for services you receive would be paid by the state. You wouldn't see the bills. There wouldn't be copays, deductibles, anything. You would go to the doctor when necessary, get treatment when necessary, that would be it. You leave the office and go home.

What would you have insurance for? There would be no purpose.

What if I LIKE my insurance? I mean how else could I pay for healthcare if I don't have insurance?
 
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archer75

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What if I LIKE my insurance? I mean how else could I pay for healthcare if I don't have insurance?

You are messing with me.

But for the benefit of others who may be reading this: single-payer healthcare would mean there is no need for private insurance. Your care would "already" be paid for under such a system.
 
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MorkandMindy

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LOL. That's just crazy.

I thought we needed a bit of levity,

but it's only half joke, there are also shrinking ice caps on Mars probably due to man-made Climate Change, or so the Martian Council is trying to prove, they're going to sue us really big...
 
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MorkandMindy

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The only answer to both problems is to cool down the Sun. I've yet to see a detailed proof of what Bernie is planning to spend more than the complete present day Government budget on.

I guess we can justify bankrupting the country on the basis of a bit of his arm-waving.
 
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Tanj

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The only answer to both problems is to cool down the Sun. I've yet to see a detailed proof of what Bernie is planning to spend more than the complete present day Government budget on.

I guess we can justify bankrupting the country on the basis of a bit of his arm-waving.

Can I get a quick sanity check M&M, were your previous posts about how you cannot afford the life saving medicine you need because of the US system all lies, or are you in fact proudly supporting the existing system that is, literally, killing you?
 
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jgarden

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TOTAL HEALTHCARE COSTS FOR 21 NATIONS (2017) - includes cost of healthcare goods/services, personal healthcare, collective services, administration fees

RANK - NATION - PER CAPITA COSTS
***********************************************************************
1. United States — $10,209

2. Switzerland — $8,009
3. Luxembourg — $6,475
4. Norway — $6,351
5. Germany — $5,728
6. Sweden — $5,511
7. Ireland — $5,449
8. Austria — $5,440
9. Netherlands — $5,386
10. Denmark — $5,183
11. France — $4,902
12. Canada — $4,826
13. Belgium — $4,774
14. Japan — $4,717
15. Iceland — $4,581
16. Australia — $4,543
17. United Kingdom — $4,246
18. Finland — $4,173
19. New Zealand — $3,683
20. Italy — $3,542
21. Spain — $3,371

The average cost of healthcare in 21 different countries
******************************************************************************************************
Bernie Sanders' proposals would cost $97 trillion

What Sanders is proposing is a universal healthcare system that is similar to that which has been operating in Canada for the last 50 years - the Canadians currently spend substantially less ($4,826 per capita) for their medical system than their American counterparts ($10,209 per capita)!

Private healthcare companies in the US with a vested interest in maintaining the "status quo" are using inflated financial scare tactics, thereby attempting to influence Americans not to vote in favor of their best interests!
 
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