Will Bernie Sanders Blow up the Budget?

Wall Street Journal: Sen. Bernie Sanders “backs at least $18 trillion in new spending over a decade, according to a tally by The Wall Street Journal … Mr. Sanders sees the money as going to essential government services at a time of increasing strain on the middle class.”

“His agenda includes an estimated $15 trillion for a government-run health-care program that covers every American, plus large sums to rebuild roads and bridges, expand Social Security and make tuition free at public colleges.”

“To pay for it, Mr. Sanders … has so far detailed tax increases that could bring in as much as $6.5 trillion over 10 years, according to his staff.”

“The Sanders program amounts to increasing total federal spending by about one-third—to a projected $68 trillion or so over 10 years.”

“For many years, government spending has equaled about 20% of gross domestic product annually; his proposals would increase that to about 30% in their first year. As a share of the economy, that would represent a bigger increase in government spending than the New Deal or Great Society and is surpassed in modern history only by the World War II military buildup.”

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