Filed under: Capitalism, Domestic Policy, Economics, Economy, Free Markets, Health Care, News of the Weird, Socialism, Taxes, The United States, Unemployment | Tags: Promising Everything!, Senator Bernie Sanders, Socialism Does Not Work
The Peter Peterson Foundation says that America’s fiscal outlook is still getting worse, with the 2016 deficit climbing by $105 billion to $544 billion. Over the next decade deficits will total $9.4 trillion and there’s Bernie Sanders with his $28 trillion health plan if he were elected.
That’s the additional spending for Bernie’s “Medicare for All” plan. Gerald Friedman, a professor at the University of Massachusetts , working with the Centers for Medicare and Medicaid Services projections of national health care spending, claims that the Sanders plan would cost $40.9 trillion between 2017 and 2026. That doesn’t even include his free college for everyone. I keep telling you that Democrats are math avoiders, and unfamiliar with economics. Britain’s NHS is broke, and killing around 9,000 people a year unnecessarily. So that’s Bernie’s plan to bankrupt America.
Meanwhile, Venezuela is on track to barrel past 700% inflation. The International Monetary Fund says Venezuela inflation will reach 720 percent this year. Nicholas Maduro, getting defeated in the legislative election is running an economic decree backed by a Supreme Court that his party packed. The newly elected free market legislature is defying him. This is Socialism, and how it works.
If the whole business of trying to become president doesn’t work out for Bernie, he could run down to Venezuela to see how Socialism really works in practice. The Army has taken over the toilet paper factories, and staples are no longer on the shelves.
The new legislature suggests that Nicholas Maduro is the problem.
ADDENDUM: The Washington Times reports that the Congressional Budget Office today warns that the federal government will be flirting with $30 trillion in debt within a decade. The problem is an aging population (baby boomers retiring) new spending and tax cuts approved on Capitol Hill, and the growing burden of ObamaCare. ObamaCare will chase more workers out of the labor force over the next five years. The Affordable Care Act is still struggling to attract a customer base. The estimate for the number of people who will sign up for the exchanges has dropped from 21 million to 13 million. They also say the economy might see significant growth of 2.5 percent this year and 2.6 percent next year. Big whoop! How about a real 4 percent growth? The business sector wants to grow and expand, but is being reined in by this administration with way too much regulation, fear of regulation, and stupid taxes. Cut the corporate tax. Corporations don’t pay taxes anyway — consumers do.
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