Secular Talk: Economist Says Sanders Would Boost American Income and Create Jobs

This is a very interesting piece from Secular Talk. Kyle Kulinski reports that CNN Money actually took the radical step of talking to an economist, Gerald Friedman(sp?) about what would happen if Sanders was able to win the election and push through his reforms. Friedman’s an economics professors at Massachusetts University. According to him, the median income of Americans would rise by $22,000, 26 million jobs would be created, and the unemployment rate would fall by 3.8%. The median income if Sanders was able to enact all his reforms would be $84,000 by 2026. This is higher than the $59,300 projected by the Congressional Budget Office. Poverty would also fall to 6% – a record low. This is far better than the CBO’s forecast of 13.9%. He would grow the economy by 5.3%, compared with 2.1%, and the $1.3 trillion deficit would turn into surplus by Bernie’s second term. The $4.5 billion Sanders would invest in the economy in improving infrastructure, expanding healthcare and family leave, and combatting youth unemployment, would boost GDP. Sanders would also increase the minimum age, and shift wealth back from the extremely rich to the middle and working class through increasing taxes on the rich and corporations.

Now there is a bias in these stats. Friedman also describes himself as a Social Democrat, and has worked for free for Bernie. He has, however, done the calculations and is willing to show them to his critics. Kulinski points out that in power Sanders will probably only be able to get through about 10% of his programme. Nevertheless, it’s better than Obama and Clinton, who conceded ground to the Conservatives even before they began that healthcare should be bought from the private firms. And even then, they’re better than the Republicans. Instead Bernie would start with single payer and continue to insist that most of it would be single payer, before conceding some ground to the private insurance firms. A Sanders presidency would be extremely good for the middle class, the working class and the poor. Not that you’ll here that from the mainstream media, however.

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