Study: Sanders' economic plan piles $18T on federal debt
Sen. Bernie Sanders' tax and spending proposals would provide new levels of health and education benefits for American families, but they'd also blow an $18-trillion hole in federal deficits, piling on so much debt they would damage the economy.
That sobering assessment comes from a joint analysis released Monday by the nonpartisan Urban-Brookings Tax Policy Center and the Urban Institute Health Policy Center, well-known Washington think tanks.
Democratic presidential candidate Sanders would raise taxes by more than $15 trillion over 10 years, with most of that paid by upper-income earners.
But that wouldn't be enough to cover the cost of his proposed government-run health care system, along with free undergraduate college, enhanced Social Security, family and medical leave, among other new programs. The cost of the health care plan alone is more than $30 trillion, according to the study.
The bottom line: Sanders would add $18 trillion to federal debt over a decade. That's about double the current total government debt of $19 trillion.