In Bernie Land, $42 Trillion in Revenue Pays for $97 Trillion in Spending [View all]

[beastie boy]

Under new pressure, Sanders released a document claiming to show how he pays for everything. It doesn’t come close.

After his train wreck 60 Minutes appearance when he couldn’t answer basic questions from Anderson Cooper about paying for some of his proposals, Sen. Bernie Sanders returned the next night while appearing on CNN and released a fact sheet claiming he can pay for all his new spending proposals. But, alas, conventional economic and budget analysis reveal that this claim is not remotely credible.

First, it is worth noting that Sanders’ spending promises total as much as $97.5 trillion over the decade. Sanders concedes that his Medicare For All plan would increase federal spending by “somewhere between $30 and $40 trillion over a 10-year period.” He has promised to spend $16.3 trillion on his climate plan. And his proposal to guarantee all Americans a full-time government job paying $15 an hour, with full benefits, is estimated to cost $30.1 trillion. The final $11.1 trillion includes $2.5 trillion on housing, $1.8 trillion to expand Social Security, $1.6 trillion on paid family leave, $1 trillion on infrastructure, $3 trillion to forgive all student loans and guarantee free public-college tuition, $800 billion on general K-12 education spending, and an additional $400 billion on higher public school teacher salaries.

Many of these spending estimates come directly from the Sanders campaign.

https://www.thedailybeast.com/in-bernie-land-dollar42-trillion-in-revenue-pays-for-dollar97-trillion-in-spending?ref=home