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2016 Postmortem
Related: About this forumUnder Sanders, income and jobs would soar, economist says
Under Sanders, income and jobs would soar, economist says
Median income would soar by more than $22,000. Nearly 26 million jobs would be created. The unemployment rate would fall to 3.8%.
Those are just a few of the things that would happen if Bernie Sanders became president and his ambitious economic program were put into effect, according to an analysis given exclusively to CNNMoney. The first comprehensive look at the impact of all of Sanders' spending and tax proposals on the economy was done by Gerald Friedman, a University of Massachusetts Amherst economics professor.
This more sweeping analysis was not commissioned by the candidate, though Sanders' policy director called it "outstanding work." Friedman has worked with Sanders in the past, but has never received any compensation. The Vermont senator asked Friedman to estimate the cost of Sanders' Medicare-for-all plan -- which came out to $13.8 trillion over 10 years -- and included the analysis when he unveiled his proposal last month.
Friedman, who believes in democratic socialism like the candidate, found that if Sanders became president -- and was able to push his plan through Congress -- median household income would be $82,200 by 2026, far higher than the $59,300 projected by the Congressional Budget Office.
http://money.cnn.com/2016/02/08/news/economy/sanders-income-jobs/
Median income would soar by more than $22,000. Nearly 26 million jobs would be created. The unemployment rate would fall to 3.8%.
Those are just a few of the things that would happen if Bernie Sanders became president and his ambitious economic program were put into effect, according to an analysis given exclusively to CNNMoney. The first comprehensive look at the impact of all of Sanders' spending and tax proposals on the economy was done by Gerald Friedman, a University of Massachusetts Amherst economics professor.
This more sweeping analysis was not commissioned by the candidate, though Sanders' policy director called it "outstanding work." Friedman has worked with Sanders in the past, but has never received any compensation. The Vermont senator asked Friedman to estimate the cost of Sanders' Medicare-for-all plan -- which came out to $13.8 trillion over 10 years -- and included the analysis when he unveiled his proposal last month.
Friedman, who believes in democratic socialism like the candidate, found that if Sanders became president -- and was able to push his plan through Congress -- median household income would be $82,200 by 2026, far higher than the $59,300 projected by the Congressional Budget Office.
http://money.cnn.com/2016/02/08/news/economy/sanders-income-jobs/
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Under Sanders, income and jobs would soar, economist says (Original Post)
FreakinDJ
Feb 2016
OP
kath
(10,565 posts)1. Great article. Thanks.
WillyT
(72,631 posts)2. Yep... K & R !!!
SheenaR
(2,052 posts)3. But...
But...Paul Krugman said...
mythology
(9,527 posts)4. The article still doesn't explain how he arrives at these figures
We already know the math on his health care plan is funny with it's original savings on prescription drugs being calculated as more than what we actually spend on them.
I'm dubious of the claim that effectively median income will grow by 50%. If somebody can show the math, that would be great. Otherwise I'm not taking the word of a random person against Paul Krugman who has a long history of being really smart on these things.
It is interesting that the same people who excoriate anybody who says something positive about Clinton and has some tenuous connection to the Clintons aren't here saying the same things about this guy.
Justice
(7,188 posts)5. This article has been posted about 20 times. Same one economist.