A bipartisan policy organization increased its cost analysis of Democratic presidential candidate Sen. Bernie Sanders (I-Vt.), now estimating the proposals will add $19 trillion to the federal debt.
The Committee for a Responsible Federal Budget first published its analysis April 7, then estimating Sen. Sanders' policies would cost $2 trillion to $15 trillion. The CRFB has changed is estimated in light of two independent projections that Sen. Sanders' healthcare plan would cost "dramatically more" than his campaign projects.
"As a result, we no longer provide a 'low health cost' estimate based on the numbers cited by the Sanders campaign," the report reads.
The report credits Sen. Sanders' specificity and the taxes he set out to offset costs his spending proposals, but notes that his campaign's estimates are far from the others found by independent agencies.
The Sanders campaign estimates providing universal single-payer healthcare and long-term care will cost $13.8 trillion, and that it will be offset with $13.9 trillion in revenue from new taxes. However, the CRFB estimates the universal single-payer healthcare plan would cost $25 trillion and the single-payer long-term care plan would cost $2.95 trillion, for a total of almost $28 trillion. The CRFB estimates the new taxes set out to specifically offset these costs would only total $11.9 trillion. Therefore, by the CRFB estimate, the healthcare costs of Sen. Sanders' plan alone would add $16.05 trillion to the federal debt.
More articles on leadership and management:
With new CEO, Providence Seaside will get new hires, could get updated look
How Valeant plans to retain its executives
Most employers would keep these provisions of the ACA if it were repealed