Progressive Democrats’ bright idea to give everyone free healthcare will cost the government $720 billion during its first year and $32 trillion over 10 years, found a study conducted by the Urban Institute and Commonwealth Fund.
During its first year, the single-payer health insurance program favored by Bernie Sanders and Elizabeth Warren would increase federal spending by $2.8 trillion, save states $260 billion, save employers $955 billion, save households $886 billion, and reduce the number of uninsured to zero.
The big question is whether these savings would balance out the higher taxes necessary to pay for the plan.
“Costs will go up for the wealthy, they will go up for big corporations, and for middle class families they will go down,” said Warren during Tuesday’s debate when pressed for honesty about the taxes required to pay for Medicare for All. “I will not sign a bill into law that does not lower costs for middle class families.”
The study also examined the sort of scaled-back healthcare plan favored by Joe Biden and Pete Buttigieg: a plan that would allow people to choose private insurance companies or government plans.
This sort of plan would cost $1.3 trillion over the next 10 years and reduce the number of uninsured Americans from 32.2 million to 6.6 million, with most uninsured being illegal immigrants.
Author’s Note: Keep in mind these estimates are conservative, as socialist healthcare programs would eliminate competition and drive prices higher.
Editor’s Note: What a surprise – another socialist who can’t do basic math.
To Hell with Obamacare!
This book was written by Joe Gilbertson of the Punching Bag Post Staff. This is the solution to the Obamacare fiasco: