The truth about Bernie's Revolution is this: Unless we don't know something that only Bernie can tell us, with a $23 trillion public debt and annual $1 trillion deficits, it is difficult to see how the federal government can raise enough money in new taxes and borrow enough new cash to make Bernie's vote-getting promises come true without creating chaos in the economy.
Don't believe it?
Take a look at these Sanders promises, and you tell me.
- Affordable housing — Promises to build 10 million reasonably priced units by increasing the federal budget by an estimated $2.5 trillion over the next ten years
- Federal jobs guarantee that promises to give every American a 'stable job that pays a living wage' (approximately $56,000.00 per year per person) — According to the Full Employment Project, this promise will cost roughly $7.5 trillion over the next decade
- Free fees and tuition at all public colleges and universities plus forgiveness of approximately $1.6 trillion in outstanding student debt — These promises will cost taxpayers about $2 trillion over the next ten years
- Medicare for all — According to the Census Bureau, this promise forces about one hundred and seventy-eight million, three hundred and fifty thousand (178,350,000) Americans to surrender their employer-based health insurance policies negotiated in place of pay increases, and, according to projections by the Rand Corporation and other analysts, will increase federal spending by an estimated $34 trillion over the coming decade
- Nationwide infrastructure rebuilding project — Promises to increase deficit spending by $1 trillion over the next decade
- Pay increases for teachers coupled with increased spending on K-12 education — Promises to add $1 trillion to deficits over the next ten years
- The Sanders New Green Deal — Promises to eliminate America's dependence on fossil fuels and, according to the Sanders Campaign, is projected to cost taxpayers about $16.3 trillion over the coming decade
If you forget about the dough for a moment, don't Sanders' revolutionary promises sound good?
Wouldn't you love to live in an America where everyone gets to live in an affordable home, has a guaranteed job, receives a free university education, never has to pay off outstanding student loans, gets to travel on smooth roads and durable bridges, gets free health care from the cradle to the grave, employs happy teachers to teach children in clean, safe, well-supplied schools while we all breathe fresh air and drink pure water?
Of course, you would, but, don't you wonder . . . where's the money?
Shouldn't the media and competitors for the 2020 Democratic nomination press Bernie to tell us the truth about how he will convince majorities in the House and Senate to vote to raise $64.3 trillion over the next ten years without adding a single cent to the public debt?
Or, should we vote for a candidate who tells the truth about how we can pay for their promises?
Huh?