Adding Up Senator Sanders's Campaign Proposals: add $2 to 15 trillion to the debt

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    Apr 10, 2016 4:12 PM GMT
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    http://fiscalfactcheck.crfb.org/adding-up-senator-sanderss-campaign-proposals-so-far/
    Senator Bernie Sanders deserves credit for trying to pay for his spending proposals' costs but, the offsets fall short according to our new analysis as part of our Fiscal FactCheck project. Senator Sanders's proposals would add $2 trillion to $15 trillion to the debt, depending on whether his health plan's costs run higher than he estimates. As a share of the economy, debt under these policies would grow from roughly 75 percent of Gross Domestic Product (GDP) today to between 93 percent and 139 percent of GDP in 2026 (compared to 86 percent of GDP under current law).

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    Apr 11, 2016 3:31 PM GMT
    One doesn't have to be an economist to figure that out. Sanders and people like him (e.g., some people who call themselves "independents" whose naïveté is mind-boggling) are living in an alternate reality.
  • Destinharbor

    Posts: 4433

    Apr 11, 2016 4:57 PM GMT
    I'm a Hillary fan (mostly because I think she's best prepared to deal with asshole Republicans) but all these projections showing mass deficits are propaganda. Yes, taxes will go up to pay for services that either you or your employer now pay, or taxpayers now pay because you're sponging on others. But Bernie's point is totally true. All other major industrial countries offer what he's advocating. And they pay for them. His point is we in America have been duped into working for relatively low wages with poor social entitlements that other countries provide. Thus a privileged class at the top can skim a higher percentage of the GDP for themselves. Free K-12 was fought by conservatives as job killing a century ago, now we assume it is right. In a modern industrial economy, that isn't enough and we can afford more if we wish. Same with health care. Get the profit motive out of healthcare and we can cover all citizens just as all other major countries do.
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    Apr 11, 2016 11:32 PM GMT
    I voted Bernie in the primary but if Hillary wins I'll vote her in the general. Two good choices. Bernie's my first pick as he's been saying what I've been saying for years. To hear his voice at the national level to me is quite exciting and as far as I'm concerned, the closest we've been in a long time to bringing back sanity as a fashion.

    I knew if I kept my sanity long enough that it would one day come back into vogue.

    I don't believe Bernie would get drastic changes through Congress but that his important conversation would best continue with him as president.

    To these numbers in the OP, yes, you have to beware projections but also you have to be able to plan. The group which sponsored the study is supposedly bipartisan, at least according to the wiki I read on them.

    To the point on naiveté, certainly there's some of that in the electorate of any persuasion, but Bernie naïve? I doubt that. Check out his interview with Charlie Rose just this week. Charlie pushed unusually hard and Bernie came out looking pretty savvy.

    But also speaking of projecting, ultimately world economy must evolve because the automation of technology will inevitably make capitalism obsolete. Not in our lifetime, but not unforeseeable either: an android built by a machine will argue cases before the Supreme Court...or a jar...

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    We'll be chanting: Equal Pay for, oh, wait, that's right, there are no jobs left to do. The Chinese & Mexican robots got them all. What's that economy? And this isn't even that. This is just shifting the wealth back to those who built this country's economy back from the last time the 1% crashed it.

    The Great Depression through Circa 1969
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    Circa 1969 through the Great Recession
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