Wednesday, September 30, 2015

Bernie Sanders' $18 Trillion Spending Problem

Prime Minister Margaret Thatcher once famously said: "The problem with socialism is that you eventually run out of other people's money."  That statement has never been truer when applied to Bernie Sander's and his socialist agenda for America.

On the campaign trail, he has proposed free college for anyone wishing to go, and free Medicare for everyone.  He wants a guaranteed 12 weeks of paid family leave.  Then there's the universal free childcare and free pre-K education.  In fact, the word "free" just goes on forever.

The problem with "free" is that it has a cost.  The folks at the Wall Street Journal found that the cost of Bernie's "free" would come to about $18 trillion dollars over ten years; or, $1.8 trillion a year.  To put this into perspective, this year our federal government will spend just under $3.8 trillion dollars at a net deficit of nearly two-thirds of a trillion dollars because we already don't have enough tax money to pay our bills.  Now, Sanders wants to hike spending by another $1.8 trillion or almost another 50% per year.  Without substantial tax increases on everyone, and not just the rich, our national debt wouldn't just go up by 50%, it would go up by 2-1/2 times the current annual amount.   A fact that would eventually bankrupt the country.

At that point, Margaret Thatcher's words will have come to fruition.


Quote: The problem with socialism is that you eventually run out of other people's money:

Bernie Sanders on the issues:Income Inequality:

Price Tag of Bernie Sanders's Proposals: $18 Trillion:

Historical Federal Receipt and Outlay Summary:


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