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Manhattan Institute

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The $32 Trillion Question That 'Medicare for All' Advocates Will Never Answer

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The $32 Trillion Question That 'Medicare for All' Advocates Will Never Answer

The Daily Beast October 10, 2018
EconomicsTaxBudget
Health PolicyMedicare/Medicaid

Health care for a family of four costs $28,000. Do they really propose to raise their taxes by that much? Then just what do they propose?

On Monday, House Speaker Paul Ryan declared that the Democrats’ embrace of single-payer health care—often called Medicare for All—shows that the party has “gone off the rails.”

While liberals will surely dismiss the speaker’s comments, the leading proposals do suffer from a potentially fatal Achilles’ heel: They would create the largest government debt burden in world history. Specifically, Sen. Bernie Sanders’ Medicare for All Act, as written, would add $32 trillion in debt over the decade, and as much as $170 trillion over 30 years.

Advocates repeatedly dismiss these figures and assert that single-payer will save money. In doing so, they confuse the proposal’s effect on total national health expenditures (NHE) with its effect on the federal budget.

Continue reading the entire piece here at The Daily Beast

______________________

Brian M. Riedl is a senior fellow at the Manhattan Institute. Previously, he worked for six years as chief economist to Senator Rob Portman (R-OH) and as staff director of the Senate Finance Subcommittee on Fiscal Responsibility and Economic Growth. Follow him on Twitter here

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