"Free Stuff": Medicare for All Cost Pegged at $32.6 Trillion for 10 Years

Cost estimates for "free stuff" are pouring in. The sticker price for "Medicare for All" is shocking.

"Medicare for All" sounds great. And every unthinking socialist wants it. But here's the deal: ‘Medicare for All’ Would Cost $32.6 Trillion Over 10 Years.

Sen. Bernie Sanders' "Medicare for all" plan would boost government health spending by $32.6 trillion over 10 years, requiring historic tax hikes, says a study released Monday by a university-based libertarian policy center.

That's trillion with a "T."

The latest plan from the Vermont independent would deliver significant savings on administration and drug costs, but increased demand for care would drive up spending, according to the analysis by the Mercatus Center at George Mason University in Virginia. Doubling federal individual and corporate income tax receipts would not cover the full cost, the study said.

The Mercatus analysis estimated the 10-year cost of "Medicare for all" from 2022 to 2031, after an initial phase-in. Its findings are similar to those of several independent studies of Sanders' 2016 plan. Those studies found increases in federal spending over 10 years that ranged from $24.7 trillion to $34.7 trillion.

As is typically the case, Bloomberg did not have the courtesy or decency to link to the study. Inquiring minds may wish to consider the Mercatus Center study on the Costs of a National Single-Payer Healthcare System

I am not at all surprised by the estimated cost but I do have a question: How do we afford $3.4 trillion a year for 10 years of "free" stuff?

And Medicare is just a start. There are proposals for free college tuition and free universal pre-kindergarten among other things.

For details, please see Finding "Inspiration" in Socialist Bernie Sanders Wannabees.

Mike "Mish" Shedlock

Comments (50)
No. 1-15
hmk
hmk

3.4 trillion USD is what we currently spend, i.e. 20% of GDP. It is a wash money wise. If they wanted to save money they should look at the best current model of universal healthcare and do what the Japanese are so good at. Copy and improve. The best way to finance it would be a VAT, that way all would pay in even the welfare parasites and those working under the table.

shamrock
shamrock

As an anecdote, I was in Toronto a month ago and overheard a conversation from the table next to us. The gist of it was this woman had gotten blood drawn and tested but couldn't get anyone to read the results. So she was discussing the bribe she needed to pay a nurse to look at the lab results for her. Nice.

Realist
Realist

The US already spends more than twice as much (per capita) on health care compared to almost every other developed nation, and you don't even cover everyone. Yet you refuse to look into how other countries accomplish superior health care for less than half the cost. I imagine that you will eventually arrive at a single payer system, but only after you have exhausted every other stupid possibility.

Ron Cataldi
Ron Cataldi

Nice, Koch-funded study saying no more crumbs for the little people. Big surprise.

themonosynaptic
themonosynaptic

So currently healthcare is 19% of our $18.5T economy. Over 10 years that is $35T - so we are getting a price cut!

And your problem is?