Report: Warren’s New Government Spending Proposals Total $127 Trillion | NTK Network Report: Warren’s New Government Spending Proposals Total $127 Trillion

Report: Warren’s New Government Spending Proposals Total $127 Trillion

Warren has positioned herself as the candidate with a “plan” to combat nearly every social and economic ill facing the country. But those plans come with a massive price tag.

By NTK Staff | 05.09.2019 @10:06am
Report: Warren’s New Government Spending Proposals Total $127 Trillion

Sen. Elizabeth Warren (D-MA) wants to be the “big idea” candidate in the 2020 Democratic presidential primary. Since launching her campaign earlier this year, Warren has released a series of proposals to combat what she sees as the social and economic ills America faces.

Warren’s most repeated phrase on the campaign trail is very likely some version of “I have a plan for that.” It’s become so ubiquitous, in fact, that her campaign has started selling t-shirts and tote bags with the phrase, “Warren has a plan for that.”

But a recent analysis by the Washington Free Beacon reveals that Warren’s “plans” are incredibly costly. She’s introduced plans to cancel student debt and provide free tuition; to provide universal child care; to combat the opioid epidemic; and she backs the Green New Deal and Medicare for All.

Combined, those programs would cost $129 trillion over 10 years, an absolutely astronomical figure:

Along with backing the Green New Deal ($94 trillion) and Medicare for All ($32.6 trillion), which total an estimated $126.6 trillion in estimated government spending over the next decade according to various studies, three of Warren’s major proposals alone cost $2.365 trillion: opioids ($100 billion), canceling student debt and offering free public college ($1.25 to $1.565 trillion), and universal child care ($700 billion).

To pay for these programs, Warren wants to institute a 2 percent wealth tax on individuals who are worth $50 million or more. For those worth more than $1 billion, the tax jumps to 3 percent. But as the Beacon’s David Rutz points out, those taxes would only raise an estimated $2.75 trillion over the next decade, a mere fraction of the amount of new spending Warren has proposed.

With no way to pay for her series of new spending plans, the U.S. would be forced to borrow massive amounts of money to cover these costs. With the national debt already at $22 trillion, adding an additional $129 trillion would be both wildly irresponsible and a danger to America’s national security.

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