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Bernie just killing Hillary today. Go Bernie!
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.
In addition, poverty would plummet to a record low 6%, as opposed to the CBO's forecast of 13.9%. The U.S. economy would grow by 5.3% per year, instead of 2.1%, and the nation's $1.3 trillion deficit would turn into a large surplus by Sanders' second term.
Other economists, however, feel that Friedman's analysis is overly optimistic, saying it would be difficult to achieve that level of economic prosperity. Last week, the Committee for a Responsible Federal Budget said Sanders' plan to pay for health care would fall short by at least $3 trillion.
Sanders' plan to pour $14.5 trillion into the economy -- including spending on infrastructure and youth employment, increasing Social Security benefits, making college free and expanding health care and family leave -- would juice GDP and productivity. (Friedman reduces the cost of Medicare-for-all to $10.7 trillion because he estimates the government would save $3.1 trillion by eliminating tax breaks for health insurance premiums.)
Also, Sanders would raise the minimum wage, as well as shift income from the rich to the middle and working class through tax hikes on the wealthy and corporations.
"Like the New Deal of the 1930s, Senator Sanders' program is designed to do more than merely increase economic activity," Friedman writes. It will "promote a more just prosperity, broadly-based with a narrowing of economy inequality."
Many presidential hopefuls say their economic programs would boost growth. Donald Trump and Jeb Bush justify their big tax cuts by saying GDP would grow at a 4% rate. But their plans have been panned by experts as overly optimistic.
Friedman, however, argues that Sanders' plan would be more stimulative because it is pouring money into the economy, as opposed to cutting taxes. Several of Sanders' proposals -- such as spending $1 trillion on infrastructure -- will happen in the first few years of his administration.
The thinking goes: This enhanced government spending would increase demand on businesses, who would then hire more workers to meet their needs. The increase in employment will prompt people to buy more, leading other businesses to hire.
"If there is more spending, people will have more to do," Friedman said, noting that the share of the population with jobs could be restored to its 1999 level of more than 64%, up from its current 59.6% rate.
Sanders' policy director, Warren Gunnels, also defended the estimates, noting the candidate is thinking big.
"We haven't had such an ambitious agenda to rebuild the middle class since Presidents Roosevelt, Truman and Johnson," he said.
Still, some experts question whether the effects would be that large.
Stimulating demand can boost a weak economy during a recession, but "it's harder to accept as a long-run growth strategy," said William Gale, the former director of Brookings' Economic Studies Program.
Also, it would be very difficult to achieve and maintain an economic growth rate of 5.3% per year after inflation. That target hasn't been hit consistently since the 1960s, when technology was providing big advancements, the workforce was younger and there was increased demand for American products worldwide as other countries fully recovered from World War II.
"The 5.3% number is a fantasy," said Jim Kessler, senior vice president at Third Way, a centrist think tank.
http://money.cnn.com/2016/02/08/news/economy/sanders-income-jobs/
USA has tried Repug austerity, extreme tax cutting for the "job creators", and it all sucks, always has sucked, always will suck.
Bernie just killing Hillary today. Go Bernie!
Sanders beats Clinton in January fundraising
http://thehill.com/blogs/ballot-box/...ry-fundraising
I put the money meme with the same sentiment towards Obama last year as well as the GOP establishment's take on Trump.
Now his political position on bus rights in the 70s will likely be difficult for him to overcome but then again the demographic doesn't seem to have a firm grasp on the issue. It will effect turnout moreso than how they vote.
He should enjoy this win.
Bernie just killing Hillary today. Go Bernie!
He'll get killed in South Caronina and Nevada.
Didn't I start a thread about this already? ....and don't forget that Hispanics like the Clintons too...
shillary got a 14 incher to the chin today
what a beat down
Seriously today money is no object for any of the candidates.
Sanders can easily raise 100 million if need be
Sanders is a fraud..I like his message but he CANNOT DELIVER......it's amazing to see all these Dumb asses thinking he can..truly sad
sanders can raise money, its already proven. but that whole what happens when the electorate isnt 100% white will be interesting. his campaign has already trashed hispanics that have endorsed hillary quite publicly, could backfire.
There were few darkies in Sanders speech tbqh.
In trumps not so much
Btw sanders would do well with brown and blacks. He's gonna raise the minimum wage
Killer deal
So you guys are betting on Hillary's miraculous recovery in the south?
s don't vote for white liberals. For whatever reason they love Bill and that though.
yeah, Slick Willy's saxophone/dark glasses gig convinced the blacks that Clintion's are black, but of course Bill signed the welfare reform which really screwed Ms of blacks, esp black women. All politicians, esp Repugs, count on the ignorance, stupidity of voters.
Whether or not he delivers is besides the point for me. The issues he pushes are definitely an uphill battle but that is no excuse to not try. It's time we started pounding the rock.
I really hope the ticket ends up Trump vs Sanders. Trumps favorability with independents is so ty he's pretty much guaranteed to lose. it might also have the GOP revisit the primary system which while better than before still is .
sanders is too far left for me but i think ultimately the best choice
America is ed, capital has destroyed, impoverished, emasculated labor.
Bernie's policies are very reasonable, extremely centrist for addressing the edness, to return to an America For The People, rather than exclusively for the 1% and BigCorp.
I've said this before but if he would speak out against the single member district I would go complete fanboi. I get the concern that he is too into market intervention and I share it but his stance on corporate law, election reform, banking reform and health care are both in accord with my own and my top issues.
A lot of people say he cannot do that much because congress won't do whit but if the justice department were to enforce current anti-trust statutes witha purpose he could dismantle the worst of the corptocracy in health care, banking, and the rest of the corporate oligarchy. His Supreme court nominees would also be instrumental.
Ayala and the hispanic fundraising machine went a long way in getting Obama elected. I find it disconcerting that they along with Obama went from their initial campaign positions to become establishment. Castro too and they are both from San Antonio.
I think he is right to criticize them as they failed along with the guy they backed to follow through on what they said they would.
im starting to feel the burn guys
I like Sanders message but the reality is voting Sanders is voting for Trump...Sanders will get trounced by Trump in the General.....Republicans haven't even went in on him yet and when they do its going to be a disaster.....you dont try stupid like this at a time the economy is fragile and still recovering.....and when Repubs control the House.....it's pointless....given the current state of politics what do you possibly think he will accomplish that Obama didn't? Sure he's not black like Obama so that will help a little but he's an avowed Socialist.....and the text book definition of a socialist will be driven home by the Republicans...it will be a disaster if Bernie beats Hillary....
A complete disaster.....to stay the course and keep the recover going we need to elect Hillary no matter what we think of her.....Bernie is too far out there and what he's advocating will never pass...it will die die die in the House and likely the Senate....he knows this....
He has a singular message about the middle class and that's it...its not enough for me.....he knows nothing about world affairs and its shameful for someone who's been in Congress for as long as he has....what has he a accomplished...he just comes out of nowhere talking this bull after being in Congress and part of the system for dam near 50 yrs...I simply don't beleive him....
I'm voting Hillary
Young male voters proving key for Sanders in New Hampshire
NASHUA, N.H. — Gloria Steinem may have been right about one thing: Bernie Sanders is where the boys are.
The feminist icon took heat late last week for saying that young women are supporting Sanders to meet boys as an explanation of why Hillary Clinton is struggling with this demographic (Steinem later apologized).
But perhaps more interesting is the extent to which men are aligned with Sanders, who enjoys a 46-point advantage with male voters in New Hampshire, according to a recent CNN/WMUR poll. It's that overwhelming advantage that's helped give the Vermont senator a healthy lead in the Granite State, which holds its first-in-the-nation primary on Tuesday.
"The missing story, is why the heck is Bernie Sanders getting 70% support from Democratic men? It’s extraordinarily high," said Andy Smith, a University of New Hampshire pollster. In 2008, Clinton got 46% of the female vote while, Obama and Edwards combined got 59% of the male vote in the Granite State.
There are many reasons why Sanders is a magnet for young males beyond the fact that Clinton’s bid to become the first female president may not resonate as much with them. Younger men, who tend to prize independence, are especially receptive to Sanders’ anti-Wall Street calls for “revolution” versus Clinton’s more incremental approach, for example..
As Sanders made his final push in New Hampshire on Monday at Daniel WebsterCommunity College in Nashua, groups of mostly male students huddled in a barn listening to Willie Nelson’s On the Road Again (Clinton, by contrast, often begins her rallies with female empowerment music), as Sanders began his speech with a mention of the Super Bowl and paid tribute to the military.
Waving his arms and pointing his finger for emphasis, he also stressed elements of his core message, which included "anger" over youth unemployment and "Wall Street greed, recklessness."
http://www.usatoday.com/story/news/p...nder/80013184/
It looks like sexism is big, older/boomer women voting for Hillary primarily just because of her gender ("it's a woman's turn"), not because of her policies and history, and men voting Bernie because of his policies and gender.
Obama ran as a near socialist with offering free healthcare for all. Sanders is running as a near socialist offering even more free healthcare for all.
you do the math.
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