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Via Free Beacon:
The implementation of nationwide, single-payer health care would cost the U.S. government more than $32 trillion over ten years, according to a new report from the libertarian Mercatus Center.
The paper, authored by Mercatus scholar Charles Blahous, assesses the fiscal impact of Sen. Bernie Sanders’s (I., Vt.) Medicare for All Act. The proposal, which would see the rollout of Medicare coverage to all Americans regardless of age, was a hallmark of Sanders’s run for the Democratic presidential nomination in 2016.
Under ideal assumptions, Blahous writes, Medicare for All would mean that federal spending on health care would rise to 12.7 percent of GDP by 2031, roughly doubling its current rate. Doubling all current income and corporate tax revenues would be insufficient to finance this massive growth in federal spending, which would itself be more than double all currently projected federal discretionary appropriations.