Alexandria Ocasio-Cortez is continually asked how she will pay for all the freebies she’s offering but she doesn’t really have a coherent response. Her mentor Bernie Sanders doesn’t either.
O-Cortez was asked the question over the weekend on ‘Pod Save America’.
“But how are you going to pay for it?”@Ocasio2018 responds: pic.twitter.com/tRvqkXYfIN
— Pod Save America (@PodSaveAmerica) August 7, 2018
Even the far-left outfit Vox published a study detailing the unaffordable costs of her and her comrades’ endless entitlement programs.
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IT WILL COST $218 TRILLION
The new study reports the Democratic Socialists freebies would roughly cost the United States $218 trillion over the next 30 years. That would be on top of an $84 trillion baseline deficit driven by Social Security, Medicare, and the resulting interest costs.
That’s trillion!
The figure included free healthcare, free college, and an increase in the minimum wage. The Socialists want a lot more than that, including free housing and universal basic income.
The lengthy report from Vox admits that in order to pay for it, the federal government would be forced to make dramatic cuts across the board in areas such as Defense spending to help pay for it all. And the government would have to raise taxes dramatically across the board.
TOTAL COST OF 60 PERCENT OF GDP
Federal spending, which typically ranges between 18 and 22 percent of GDP, would immediately soar past 40 percent of GDP on its way to nearly 50 percent within three decades. Including state and local government spending would push the total cost of government to 60 percent of GDP by that point — exceeding the current spending level of every country in Europe.
It’s a recipe for collapse.
My new study @voxdotcom:
The Democratic Socialist proposals would cost $42 trillion over the decade and $218 trillion over 30 years — according to CBO and liberal scores.https://t.co/81yQCrbrNM
— Brian Riedl (@Brian_Riedl) August 7, 2018
“The democratic socialists may do well in November. Yet upon arriving in Washington, they will discover that even their revolution cannot repeal the laws of math,” the author concludes.
wpDiscuz
