Think Barack Obama is a big spender? Not that you’ll be surprised, but just wait if Hillary Clinton gets elected.
Of the two
Socialist Democrat candidates, Bernie Sanders’ proposals were of course the most egregious, with an analysis from the Wall Street Journal estimating the cost of Bernie’s proposals at $18 trillion over ten years in addition to current levels of spending. His tax plan would attempt to pay for these proposals by increasing our Federal tax burden by 34 percent, but even that doesn’t come close to paying for his proposals.
Hillary isn’t as big a spender as Bernie, but to say she isn’t a big spender just because she isn’t, relative to Bernie, is like saying Michael Moore isn’t fat because Sumo wrestlers weigh more.
So what would the price-tag be for a Hillary presidency? As Kevin Ryan writes at Unbiased America:
Hillary Clinton’s new spending proposals would cost more than of some of the biggest government expenditures in history COMBINED.
The cost of her 12 week family leave plan, college tuition and student loan plans, child care entitlements, money for global warming programs, and other proposals would amount to $3.5 trillion in new spending over ten years. It would be the second largest percentage spending increase since 1981, with only Obama’s stimulus year of 2009 being bigger.
And you will pay for her spending via higher taxes, higher inflation, higher interest rates, and lower wages, leaving even less disposable income to pay for burgeoning cost of living.
The reality is, the more money government takes from people to spend on one-size-fits-all programs that politicians choose, the less take-home pay you have to meet the specific needs dictated by your family’s circumstances.
A list of sources for the data can be found here.
Granted, the New Deal would’ve cost much more today since the population is much larger than during FDR’s presidency, but still, this all helps put the cost of Hillary’s proposals in perspective. Doubt she’ll be bragging about this one.
[Note: This post was authored by Matt Palumbo. Follow him on Twitter @MattPalumbo12]