Taxpayers listening to Senator Bernie Sanders, Democrat Socialist candidate Alexandria Oscario-Cortez, and others, support the idea of “free” universal healthcare should know just how much that would cost them.
As the Daily Wire reports, the “free” healthcare would cost taxpayers more than $30 trillion dollars over the next decade.
That’s trillion with a “T.”
More specifically: $32,600,000,000,000.
Taxpayers already shelled out $3.32 trillion dollars to the federal government in 2017, a number which rises year-after-year. And, of course, the government overspent the funds – spending $3.982 trillion – and created a $666 billion budget deficit.
The additional cost for “free” healthcare could, and probably would, skyrocket the budget deficit.
Per Daily Wire:
Now comes Sen. Bernie Sanders with a new plan to provide “Medicare For All,” essentially a government-run health care program. Under the plan — heavily supported by the rising Democratic star Alexandria Ocasio-Cortez, running for a House seat from New York — every American would get health care for “free.”
Guess how much “free” costs? Try $32.6 trillion over 10 years, according to a new study. That averages out to $3.26 trillion a year — almost exactly what the government took in last year. That’s if the new plan took effect in 2022, according to a new study released Monday by the Mercatus Center at George Mason University.
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Here’s more on the study, from ABC News:
Sanders’ plan builds on Medicare, the popular insurance program for seniors. All U.S. residents would be covered with no copays and deductibles for medical services. The insurance industry would be relegated to a minor role.
“Enacting something like ‘Medicare for all’ would be a transformative change in the size of the federal government,” said Charles Blahous, the study’s author. Blahous was a senior economic adviser to former President George W. Bush and a public trustee of Social Security and Medicare during the Obama administration.
Senator Sanders responded to the report and said the cost should be easily covered by American taxpayers.
“If every major country on earth can guarantee health care to all, and achieve better health outcomes, while spending substantially less per capita than we do, it is absurd for anyone to suggest that the United States cannot do the same,” Sanders said, per ABC News. “This grossly misleading and biased report is the Koch brothers response to the growing support in our country for a ‘Medicare for all’ program.”
According to the report, Sanders’ office staff was able to find an error in the report which reduced nearly $3 trillion over a ten year period. But, the new study agrees with previous estimates that the cost of “free” healthcare could be between $2.5 and $3.2 trillion, every year.
From ABC News:
The Mercatus analysis estimated the 10-year cost of “Medicare for all” from 2022 to 2031, after an initial phase-in. Its findings are similar to those of several independent studies of Sanders’ 2016 plan. Those studies found increases in federal spending over 10 years that ranged from $24.7 trillion to $34.7 trillion.
Kenneth Thorpe, a health policy professor at Emory University in Atlanta, authored one of those studies and says the Mercatus analysis reinforces them.
“It’s showing that if you are going to go in this direction, it’s going to cost the federal government $2.5 trillion to $3 trillion a year in terms of spending,” said Thorpe. “Even though people don’t pay premiums, the tax increases are going to be enormous. There are going to be a lot of people who’ll pay more in taxes than they save on premiums.” Thorpe was a senior health policy adviser in the Clinton administration.
Not so “free” after all.