A trillion here, a trillion there, and pretty soon you’re talking about a real “Bern” for American’s debt — and possibly the overall economy.
Presidential contender Bernie Sanders’ broadly progressive tax and spending proposals would add a whopping $21 trillion to the national debt over the next decade, according to a joint analysis released Monday.
That amount far exceeds the $14 trillion in debt currently owed by the federal government.
The massive additional debt represents the net bill for the Vermont senator’s proposals to implement a single-payer health-care system, provide generous long-term care services, provide free public college tuition and paid family leave, and expand Social Security.
Sanders’ proposals would cost $33.3 trillion in new spending, mostly from his health-care proposals — more than double the $15.3 trillion in new taxes, mostly on wealthier American households, that he proposes if he’s elected president, according to the analysis by the Tax Policy Center.
True, Bernie isn’t going to be the Democrats’ nominee, but he has captured the fancy of the younger kids (Thanks, public education!) and has most definitely pushed the conversation within his party leftward. That’s in a party that has been lurching to the left for thirty years already. Perhaps they were already far left, and Sanders merely exposed their pretend-centrist ruse. Either way, millions of millennials are now under the impression that college can and should be “free.”
There was a time in the not-too-distant past that the word “trillion” wasn’t thrown around so casually in American economic discussions, but the new normal has made most of us a bit immune to ever-expanding numbers, and that emboldens the politicians who serve the government and not the people.
It’s also important to remember that federal projections are generally WAY low. Bernie’s socialist fantasies are probably going to end up costing a lot more than that over ten years.
If America has another ten years in it after this election, that is.