Under our current system, America is on track to spend roughly $52 trillion on health care in the next decade. That includes both government programs (Medicare, Medicaid, etc.) and household spending (insurance premiums, out-of-pocket costs, etc.). Medicare for All would consolidate all that spending under one program. Experts estimate that this would require the government to come up with an additional $20 trillion and $36 trillion — money that would cover the out-of-pocket spending that households and employers would otherwise pay to insurance companies, drug companies, and other parts of the corporate-run health care system.
Well, guess what? That happens to be almost exactly the amount of money our government committed to corporate bailouts since 2008:
–After the 2008 financial crisis, lawmakers gave $700 billion of grants to big banks.
–Depending on how you count, the Federal Reserve additionally committed somewhere between $16 trillion and $29 trillion to large financial institutions.
–A decade later amid the coronavirus outbreak, lawmakers passed a bailout bill that will funnel $4 trillion to large corporations.
So again: the same government that says we cannot afford $20–$35 trillion over a decade to finance a Medicare for All program just gave Corporate America between $20 trillion and $35 trillion since the financial crisis roughly a decade ago. And that money was funneled to Corporate America not just in absence of tax increases — it was delivered while the government was actually cutting taxes.
Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction