Study: Sanders' economic plan piles $18T on federal debt | iNFOnews | Thompson-Okanagan's News Source

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Study: Sanders' economic plan piles $18T on federal debt

Democratic presidential candidate, Sen. Bernie Sanders, I-Vt. speaks at a campaign rally, Monday, May 9, 2016, in Atlantic City, N.J. (AP Photo/Mel Evans)
May 09, 2016 - 10:03 AM

WASHINGTON - A nonpartisan analysis finds 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 over 10 years, piling on so much debt they would damage the economy.

That sobering assessment comes from twin studies released Monday by the Urban-Brookings Tax Policy Center and the Urban Institute Health Policy Center, two well-known Washington think tanks.

Sanders would raise taxes by more than $15 trillion over 10 years, with most of that paid by upper-income earners.

But the bottom line is his proposed government-run health care system, along with free undergraduate college, enhanced Social Security, family and medical leave and other new programs would spend far more.

News from © The Associated Press, 2016
The Associated Press

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