Politics

Sanders’s Policy Plans Could Total A Whopping $97.5 Trillion Over 10 Years: Report

Win McNamee/Getty Images

Daily Caller News Foundation logo
Font Size:

2020 Democratic presidential candidate Bernie Sanders’s various spending proposals amount to a total of $97.5 trillion over 10 years.

Total government spending could jump to as much as 70% of GDP under Sanders’s spending plans and 50% of the U.S. workforce would work for the government, the Manhattan-based news outlet City-Journal reported Monday.

The U.S. budget deficit could reach $90 trillion over 10 years under all of Sanders’ plans, even though Federal Government spending is already projected to reach $60 trillion and state and local government spending is projected to reach $29.7 trillion, according to the City-Journal citing a report from the Congressional Budget Office.

Additionally, the budget deficit over 10 years could reach $90 trillion, and annual budget deficits could exceed 30% of GDP, the City-Journal reported.

Sanders’ Medicare For All plan would cost about $32 trillion over 10 years, according to two studies — one by the Mercatus Center and another by the Urban Institute — though the Vermont senator himself said the plan could cost “somewhere between $30 and $40 trillion over a 10-year period” in a July interview with Washington Post reporter Robert Costa.

His climate change plan could amount to $16.9 trillion and aims to create 20 million jobs, and his plan to guarantee all Americans full-time government jobs that pay $15-per-hour plus benefits could cost $30.1 trillion.

The last $11.1 trillion would come from his $3 trillion plan to make public colleges free and forgive all student loan debt, $1.8 trillion Social Security expansion plan, $2.5 trillion housing plan, $1.6 trillion paid family leave plan, $1 trillion infrastructure plan, $800 billion K-12 education plan and $400 billion higher-education teacher salary plan, according to City-Journal.

These programs would also double the amount of Americans who work for the Federal Government, the City-Journal reported. (RELATED: Bernie Sanders Explains Why He’s A Millionaire)

Taxes on the country’s wealthiest families would also increase significantly under a Sanders administration. His wealth tax, introduced on Sept. 24, aims to raise $4.35 trillion over 10 years. To do so, an annual 1% tax would be implemented on a net worth of over $32 million, and that percentage would increase by marginal rates until it reaches 8% on net worth over $10 billion.

The Vermont senator‘s tax would be applied to accumulated wealth instead of just income, which would cut the average billionaire’s wealth in half in 15 years, The New York Times reported citing two economists who helped create the Vermont senator’s plan.

“I don’t think that billionaires should exist,” Sanders told The NYT. “This proposal does not eliminate billionaires, but it eliminates a lot of the wealth that billionaires have, and I think that’s exactly what we should be doing.”

The Sanders campaign did not immediately respond to the Daily Caller News Foundation’s request for comment.

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

PREMIUM ARTICLE: Subscribe To Keep Reading

Sign up

By subscribing you agree to our Terms of Use

You're signed up!

Sign up

By subscribing you agree to our Terms of Use

You're signed up!
Sign up

By subscribing you agree to our Terms of Use

You're signed up!

Sign up

By subscribing you agree to our Terms of Use

You're signed up!
Sign up

By subscribing you agree to our Terms of Use

You're signed up!

Sign Up

By subscribing you agree to our Terms of Use

You're signed up!
Sign up

By subscribing you agree to our Terms of Use

You're signed up!
Sign up

By subscribing you agree to our Terms of Use

You're signed up!
BENEFITS READERS PASS PATRIOTS FOUNDERS
Daily and Breaking Newsletters
Daily Caller Shows
Ad Free Experience
Exclusive Articles
Custom Newsletters
Editor Daily Rundown
Behind The Scenes Coverage
Award Winning Documentaries
Patriot War Room
Patriot Live Chat
Exclusive Events
Gold Membership Card
Tucker Mug

What does Founders Club include?

Tucker Mug and Membership Card
Founders

Readers,

Instead of sucking up to the political and corporate powers that dominate America, The Daily Caller is fighting for you — our readers. We humbly ask you to consider joining us in this fight.

Now that millions of readers are rejecting the increasingly biased and even corrupt corporate media and joining us daily, there are powerful forces lined up to stop us: the old guard of the news media hopes to marginalize us; the big corporate ad agencies want to deprive us of revenue and put us out of business; senators threaten to have our reporters arrested for asking simple questions; the big tech platforms want to limit our ability to communicate with you; and the political party establishments feel threatened by our independence.

We don't complain -- we can't stand complainers -- but we do call it how we see it. We have a fight on our hands, and it's intense. We need your help to smash through the big tech, big media and big government blockade.

We're the insurgent outsiders for a reason: our deep-dive investigations hold the powerful to account. Our original videos undermine their narratives on a daily basis. Even our insistence on having fun infuriates them -- because we won’t bend the knee to political correctness.

One reason we stand apart is because we are not afraid to say we love America. We love her with every fiber of our being, and we think she's worth saving from today’s craziness.

Help us save her.

A second reason we stand out is the sheer number of honest responsible reporters we have helped train. We have trained so many solid reporters that they now hold prominent positions at publications across the political spectrum. Hear a rare reasonable voice at a place like CNN? There’s a good chance they were trained at Daily Caller. Same goes for the numerous Daily Caller alumni dominating the news coverage at outlets such as Fox News, Newsmax, Daily Wire and many others.

Simply put, America needs solid reporters fighting to tell the truth or we will never have honest elections or a fair system. We are working tirelessly to make that happen and we are making a difference.

Since 2010, The Daily Caller has grown immensely. We're in the halls of Congress. We're in the Oval Office. And we're in up to 20 million homes every single month. That's 20 million Americans like you who are impossible to ignore.

We can overcome the forces lined up against all of us. This is an important mission but we can’t do it unless you — the everyday Americans forgotten by the establishment — have our back.

Please consider becoming a Daily Caller Patriot today, and help us keep doing work that holds politicians, corporations and other leaders accountable. Help us thumb our noses at political correctness. Help us train a new generation of news reporters who will actually tell the truth. And help us remind Americans everywhere that there are millions of us who remain clear-eyed about our country's greatness.

In return for membership, Daily Caller Patriots will be able to read The Daily Caller without any of the ads that we have long used to support our mission. We know the ads drive you crazy. They drive us crazy too. But we need revenue to keep the fight going. If you join us, we will cut out the ads for you and put every Lincoln-headed cent we earn into amplifying our voice, training even more solid reporters, and giving you the ad-free experience and lightning fast website you deserve.

Patriots will also be eligible for Patriots Only content, newsletters, chats and live events with our reporters and editors. It's simple: welcome us into your lives, and we'll welcome you into ours.

We can save America together.

Become a Daily Caller Patriot today.

Signature

Neil Patel