Link: money.cnn.com/…
According to UMass economist Gerald Friedman, Bernie Sanders’ economic plan would:
- Increase median income by more than $22,000
- 26 million jobs would be created
- The unemployment rate would fall to 3.8%
- Poverty would plummet over 50%
- The economy would grow at 5.3% rather than the anticipated 2.1%
- The deficit would be a surplus by his second term
Sanders' plan to pour $14.5 trillion into the economy -- including spending on infrastructure and youth employment, increasing Social Security benefits, making college free and expanding health care and family leave -- would juice GDP and productivity. Also, he would raise the minimum wage, as well as shift income from the rich to the middle and working class through tax hikes on the wealthy and corporations.
"Like the New Deal of the 1930s, Senator Sanders' program is designed to do more than merely increase economic activity," Friedman writes. It will "promote a more just prosperity, broadly-based with a narrowing of economy inequality."
"If there is more spending, people will have more to do," Friedman said, noting that the share of the population with jobs could be restored to its 1999 level of more than 64%, up from its current 59.6% rate.
About the referenced economist: www.umass.edu/…
VOTE BERNIE SANDERS.