A person on social media challenged my post where I stated that Sanders’ plan for nationwide Medicare for all would double the national budget because he claimed only the elderly are on Medicare and therefore putting the rest of the nation on it would not double the cost.
What I had previously posted was this:
- In 2014 the federal budget for all programs was $3.8 Trillion.
- There were 44,100,000 Medicare participants.
- The total cost to TAXPAYERS was 597 Billion dollars.
- That would be $13,537.41 per Medicare recipient.
- Using that information, at the beginning of 2015:
- There were 320 million Americans.
- 320 million X $13,537.41 equals $4,331,972,789,116 and change, which is MORE than the whole national budget right now. The money does not magically appear, it comes out of the pockets of those who work.
In all fairness, I decided to check his claim that the elderly on Medicare cost more medically than everyone else. Here is what I came up with:
- Medicaid cost taxpayers $492 Billion
- Medicare cost $597 Billion.
- Combined they are over a trillion without switching over everyone currently on private insurance policies.
- 66% of Americans were covered by private insurance.
- 10% were uninsured.
- 24% fell under Medicaid and Medicare.
- Therefore 24% of Americans cost the taxpayers $1.089 Trillion dollars.
- $1,089,000,000,000 divided by 24 to get the cost per 1% = $45,375,000,000 (45 Billion, 375 Million dollars) in expense per 1% of the population.
- That equals a cost for 100% of the population of America at 4,537,500,000,000 (4 Trillion, 537 Billion, 500 Million dollars).
I have to admit that my previous calculations showed it would cost $4.331 trillion dollars when processing it the second way equals $4.537 trillion dollars and increase in $206 billion dollars. If you average the two out, the cost will be 4.434 trillion dollars and it is still greater than the total national budget now and therefore would effectively double the budget.
Of course his response was he thought I was still waiting for trickle down economics. My reply was I don’t expect others to pay my way and instead of asking others to finance my lifestyle, I live a lifestyle within my means.