Sanders' Economic Plan Torn Apart By Former Clinton, Obama Economists

[still_one]

They say a new analysis of the plan makes “claims that cannot be supported by the economic evidence."


"Bernie Sanders' economic plan has sparked a heated debate among Democratic economists over whether it could work.

Four former chairs of the White House Council of Economic Advisers published a letter Wednesday morning chiding the Sanders campaign and Gerald Friedman -- an economist at UMass Amherst who recently put out a 53-page analysis of the Sanders tax and health care plans -- for making unrealistic assumptions that "no credible economic research supports."

Friedman's analysis, which was independent and unaffiliated with the Sanders campaign, showed that the Sanders single-payer health care plan in particular would have an exceedingly positive effect on the economy.

"We are concerned to see the Sanders campaign citing extreme claims by Gerald Friedman about the effect of Senator Sanders’s economic plan -- claims that cannot be supported by the economic evidence," the authors write."

........


"Friedman's specific analysis projects that median household income would increase to more than $80,000 per year by 2026, the economy would grow by 5.3 percent, and unemployment would fall to 3.8 percent. Friedman said his projections show the U.S. returning to the growth rates of the 1960s, and to the labor force participation rates of the late 1990s.

The former CEA chairs disagree, however. "Making such promises runs against our party’s best traditions of evidence-based policy making and undermines our reputation as the party of responsible arithmetic," the letter says.

Goolsbee tweeted out the link, saying the Vermont senator's plan uses "R-tax-plan-like fantasy numbers.""

http://www.huffingtonpost.com/entry/sanders-plan-economists_us_56c48e74e4b0b40245c886a5

[Cha]

1. sanders put out his tax plan and the reality based economists are not buying it.

You can't make this stuff up!

Mahalo stillone~

[SunSeeker]

2. "runs against our party’s best traditions of evidence-based policy making"

Yup, just like Republican/Tea Party tax cut math: pure fiction. Maybe Sanders’ plan doesn't follow Democratic Party evidence-based tradition because Sanders, for all but the last few months of his 74 years, vehemently rejected being a member of the Democratic Party.

[comradebillyboy]

4. They must be establishment economists. You need special training

to see how Bernie's numbers add up since conventional math isn't adequate.

[Tarheel_Dem]

5. ^^^ THIS ^^^

[Kang Colby]

6. This.