Jul 30, 2018

Bernie’s "Medicare for All" predicted to cost nearly $33 trillion

Machines monitor a patient's vital signs at a New York City hospital. Photo: Andrew Lichtenstein/Corbis via Getty Images

A new study from the Mercatus Center, a libertarian policy center at George Mason University, projects that progressive Democrats' "Medicare for All" plan would cost the government $32.6 trillion over 10 years.

Why it matters: The study concludes that doubling all federal individual and corporate income taxes would not be enough to cover the added costs of the plan.

The backdrop: Democrats intend to make health care a central issue in the 2018 midterms and progressive candidates, like Alexandria Ocasio-Cortez, have been running on "Medicare for All."

What they're saying: Sen. Bernie Sanders, a key backer of the "Medicare for All" proposal, called the study "grossly misleading and biased" in a statement and cited the Mercatus Center's funding from the Koch political network, per Fox News:

"If every major country on earth can guarantee health care to all, and achieve better health outcomes, while spending substantially less per capita than we do, it is absurd for anyone to suggest that the United States cannot do the same."

Worth noting: All told, "Medicare for All" would actually slightly reduce the total amount we pay for health care. But the plan would increase the share of that cost paid through taxes, rather than through insurance premiums or out of pocket.

Go deeper... Democrats' next war: "Medicare for All"

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World coronavirus updates: Cases surge past 720,000

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

There are now more than 720,000 confirmed cases of the coronavirus around the world, according to data from Johns Hopkins. The virus has now killed more than 33,000 people — with Italy alone reporting over 10,000 deaths.

The big picture: Governments around the world have stepped up public health and economic measures to stop the spread of the virus and soften the financial impact. In the U.S., now the site of the largest outbreak in the world, President Trump said Sunday that his administration will extend its "15 Days to Slow the Spread" guidelines until April 30.

Go deeperArrowUpdated 2 mins ago - Health

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 718,685 — Total deaths: 33,881 — Total recoveries: 149,076.
  2. U.S.: Leads the world in cases. Total confirmed cases as of 7 p.m. ET: 139,675 — Total deaths: 2,436 — Total recoveries: 2,661.
  3. Federal government latest: President Trump says his administration will extend its "15 Days to Slow the Spread" guidelines until April 30.
  4. Public health updates: Fauci says 100,000 to 200,000 Americans could die from virus.
  5. State updates: Louisiana governor says state is on track to exceed ventilator capacity by end of this week — Cuomo says Trump's mandatory quarantine comments "panicked" some people into fleeing New York
  6. World updates: Italy on Sunday reports 756 new deaths, bringing its total 10,779. Spain reports almost 840 dead, another new daily record that bring its total to over 6,500.
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Trump says peak coronavirus deaths in 2 weeks, extends shutdown

Photo: Tasos Katopodis/Getty Images

President Trump is extending his administration's "15 days to slow the spread" shutdown guidelines for an additional month in the face of mounting coronavirus infections and deaths and pressure from public health officials and governors.

Driving the news: With the original 15-day period that was announced March 16 about to end, officials around the country had been bracing for a premature call to return to normalcy from a president who's been venting lately that the prescription for containing the virus could be worse than the impacts of the virus itself.

Go deeperArrow2 hours ago - Health