Under Sanders, income and jobs would soar, economist says

[AZ Progressive]

Credit to Segami for finding this article

From CNN Money:

Under Sanders, income and jobs would soar, economist says

Median income would soar by more than $22,000. Nearly 26 million jobs would be created. The unemployment rate would fall to 3.8%.

Those are just a few of the things that would happen if Bernie Sanders became president and his ambitious economic program were put into effect, according to an analysis given exclusively to CNNMoney. The first comprehensive look at the impact of all of Sanders' spending and tax proposals on the economy was done by Gerald Friedman, a University of Massachusetts Amherst economics professor.

Friedman found that if Sanders became president -- and was able to push his plan through Congress -- median household income would be $82,200 by 2026, far higher than the $59,300 projected by the Congressional Budget Office.

In addition, poverty would plummet to a record low 6%, as opposed to the CBO's forecast of 13.9%. The U.S. economy would grow by 5.3% per year, instead of 2.1%, and the nation's $1.3 trillion deficit would turn into a large surplus by Sanders' second term.

This more sweeping analysis was not commissioned by the candidate, though Sanders' policy director called it "outstanding work." Friedman previously scored the Vermont senator's Medicare for all plan.

Read more here.

[FreakinDJ]

1. Reality based economic agenda

[Beacool]

2. If Bernie Sanders became president and his ambitious economic program were put into effect,

IF is the important part of this whole story:

"Friedman found that if Sanders became president -- and was able to push his plan through Congress -- "

A Congress that will fight Sanders as hard, or even harder, than they fought against Obama.

[SoLeftIAmRight]

3. no we can't - no we can't - no we can't

yell it with me

no we can't - no we can't - no we can't

[Ferd Berfel]

8. OK.........

[SoLeftIAmRight]

9. you get a heart

be well

[Ferd Berfel]

10. TX

[Ferd Berfel]

19. She kinda embodies

The “soft bigotry of low expectations” doesn't she.

[AzDar]

43. ...

[LWolf]

21. No we can't, no we won't.

[Amimnoch]

23. Perhaps you have a potential roll call vote of the 115th congress?

The 110th congress, under President Obama was one of the most progressive cause sympathetic congress we've had in some time.

Even with that Congress, and a really kick ass President, who pushed very hard for the government option, he was only able to get the current version of the ACA passed without a government option (much less single payer system we desire).

Since that Congress, there has been a ridiculous number of votes.. well known to be doomed to failure.. to try to repeal the act as it is, much less enhance it.

I've laid this challenge down several times already, met with only deflection.. Show me a potential roll call vote that will pass the Sanders plan, and he has my whole hearted support and vote.

In all likelihood, we are going to have a Congress that is going to continue this trend of trying to roll us back, and has no interest in moving us forward.

We need a full movement to make Senator Sanders vision a reality. Something like the Tea Party.. but for smart people. A movement where we start running Democrats that Can be elected in red places, and in the Blue, start running real primary challenges against the blue dog Dems (you know the ones that killed the government option of the ACA). Take a page out of the Tea Party play book.. identify the blue dogs, and get them real primary challenges, while doing everything we can to keep our progressive candidates in place.

I know you meant it as a snarky meme, but it's true.. no we can't.. not until we do what we need to do and get a congress that will change that to "yes we can!"

[DhhD]

45. 2009-10 Congress was controlled by Democrats. Obama's broken campaign promises on ACA.

http://www.huffingtonpost.com/eric-zuesse/obama-lied-about-obamacar_b_5161578.html


Obamacare or ACA was passed by Congress in 2010 without Republicans asking for the public option to be dropped.

2016 ACA is limited HMO doctor visits; a healthcare plan that Obama and Hillary Clinton claimed as their own, until after the Iowa Caucus. Now she has flip-flopped over to, Bill Clinton HMO Universal Care, of the 1990s. (I have already provided links with the 1998 Democratic Campaign of Jesse Jackson and single payer. Fell free to use Google, if interested.)

[artislife]

33. The Great Unchange--vote for Hillary. nt

[iandhr]

50. Ok

Explain to me how Sanders pushes his plan through a Republican house?

[Ferd Berfel]

5. Yea the same clowns denying Climate Change

and many now starting to 'evolve' their positions on it.

I'm really sick of hearing "We Can't because it's too hard"

I'll see your loser right wing and raise you 171 Top Economists


170 Top Economists endorse the Sanders Wall Street Reform Plan
http://www.democraticunderground.com/?com=view_post&forum=1251&pid=1174456

[AZ Mike]

7. Yeah, they'll be so nice to Hillary and her half-assed, middling agenda.

Right.

[artislife]

34. Can it even be called an agenda.

It seems like she is willing to follow the play book already in play. The one that will be easy on corporations.

[AZ Mike]

40. Status quo and the Audacity of Nope.

You're right.

[Warren Stupidity]

15. Yeah, that's true, that other candidate won't do any of this stuff.

[Andy823]

18. Exactly

And the IF word seems to not resinate with many of the Sanders supporters. IF we had like minded members of congress who would push Bernie's agenda, then this article might be correct, not sure since I don't see exactly how he got to his numbers. The point is we might take back the Senate, but we won't take back the House for some time. Now way will all of Bernie's plans come to be with the House in republican hands.

The revolution will not start at the top, it has to start at the local levels, then the state levels, and then the nation level. Until confess is full of members who agree with Bernie's agenda, nothing is going to come of all his ideas, no matter who good they might be.

[djean111]

30. Sorry, but Debbie Wasserman-DINO keeps any liberals/Progressives that she can off the

ballots. The DNC decides just who it is going to support. And, down here in Florida, we can see first-hand how Debbie has even campaigned for GOP buddies, and refused to campaign/fund-raise for Democrats running against her GOP buddies.

That "start at the bottom" stuff is just empty puffery designed to make us feel like we are just not trying hard enough for liberal candidates downstream. NO.

Oh, and Bernie's ideas - keep in mind that many of us are afraid of just what Hillary will manage to accomplish, with the help of the DINOs and the GOP. So there's that.

[Beacool]

39. The problem with his revolution is that conservative districts will remain conservative.

If anything, the country is more polarized than ever. That's why we have the ascendancy of the Tea Party, Trump and Sanders. People are angry and they believe what both extremes tell them, depending on their political bent. The Tea Party and evangelical crowd want "America back" and blame every woe on illegal immigrants and "Marxists" like Obama. The Left blames every national woe on Wall Street.

Trench warfare is what we'll have between the next president and Congress. I don't see a revolution, political or otherwise, taking place anytime soon.

[restorefreedom]

24. and will fight hillary equally hard

no dem will have an easy time until the makeup of congress starts to change. that is no reason to give up, its motivation to fight harder

[daleanime]

31. But they will, of course, welcome Hillary....

with open arms.

[AlbertCat]

47. or even harder, than they fought against Obama.

But not as hard as they will, with their irrational hatred, fight a Clinton..... something they've been strategizing about for a decade now.

[rhett o rick]

51. Exactly. The harder the Republicons fight the more we know we are right.

We don't want someone that sees eye to eye with the Republicons on almost all issues. Clinton's cooperation with Republicons lead to the ruined lives of millions and we in the 99% are still feeling the effects.

Clinton is part of the existing culture of big money politics that all Democrats should be against.

[Ferd Berfel]

4. and This guy isn't even on the list of 170 Economists that endorsed Bernie's Plan !

I guess this makes it 171 economists !!





170 Top Economists endorse the Sanders Wall Street Reform Plan
http://www.democraticunderground.com/12511032322

[procon]

6. Note the cautionary phrase:

" -- and was able to push his plan through Congress -- "

Given that policy of obstructionism since the Republicans took control Congress, and knowing that it will likely continue as they will retain the majority status unto well after the next census changes things, any Democrat will have little to no chance of moving their policies.

[litlbilly]

27. So, just stick Hillary in there and dont bother.......Wrong Answer.

[procon]

48. Knowing how bills are made, it applies equally to any Democrat, yeah?

I said that already, but you disagree. Whoever it is, I'll say that without a strong network of powerful allies in Congress and the personal clout to get enough politicians to support him/her, there's no way a Democrat will ever make any significant headway against those determined GOPers in the House who control the purse, to get something passed.

Rather than fizz out yet another blustering anti-Hillary rumpus, if you think it will be different with Sanders, go ahead and outline your opposing thoughts as to how your preferred candidate might otherwise prevail where others can't.

[Arazi]

11. Kicked and Recced eom

[mythology]

12. Having read the article, what is he basing this on?

It seems wildly optimistic and isn't being replicated in other analysis. Adding nearly half the median income seems rather extraordinary, but it lacks the extraordinary evidence.

[klook]

36. See original

for more details and references to sources:
http://www.dollarsandsense.org/archives/2016/0116friedman.html

Obviously it's a projection, so it would be impossible to come up with something that would satisfy everyone. Still, Friedman's credentials are good, and he's provided the rationale for his conclusions. So I think it's an interesting analysis and worth a read.

[Warren Stupidity]

13. Can't have that. The important thing is to zero out interest rates, zero out inflation, and

keep the carnival on wall street running full bore!

[hedda_foil]

14. THANK you. :^D

[CharlotteVale]

16. K&R

[in_cog_ni_to]

17. This deserves a gazillion K&Rs!

Thanks for posting this and thank you segami!

PEACE
LOVE
BERNIE

[Go Vols]

20. K&R

[TIME TO PANIC]

22. K & R!

[Spitfire of ATJ]

25. Want to see jobs spike?

Offer corporations a tax cut on payroll but only if the jobs are in this country.

Then add tariffs on imports.

Make it more expensive to outsource.

[yourout]

29. +1.....carrot and stick approach.

[gyroscope]

26. It's not rocket science

when 1% have 90% of the country's wealth sitting idle in their offshore bank accounts doing nothing, it creates a great deal of poverty and economic stagnation. but if instead you take that money and put it back into the economy, you create a huge economic stimulus and booming economy.

[kristopher]

28. It is almost instinctive, but confirmation is great!

Thanks for posting it.

[Pauldg47]

32. Yes....I believe a trend in competitive wages will come about.

[AgingAmerican]

35. Over the last couple decades GOP economic policy has seeped into the Democratic party

It's time to end this failed experiment and go back to what works.

[oasis]

37. "IF" he could just convince a GOP congress to PAY for it.

Two words for your economics professor. "Well, duh"

[libodem]

38. I heart Bernie

[Duval]

41. K&R!

[SusanLarson]

42. It's common sense people

This was what I said in my post on Facebook...

Who would have thought, when you increase the wages of people at the bottom that businesses would have to hire more workers to deal with all the people spending it.

"Sanders' plan to pour $14.5 trillion into the economy -- including spending on infrastructure and youth employment, increasing Social Security benefits, making college free and expanding health care and family leave -- would juice GDP and productivity. Also, he would raise the minimum wage, as well as shift income from the rich to the middle and working class through tax hikes on the wealthy and corporations. "

[stuffmatters]

44. Great article, hope it gets spread around loud, long and far

[AlbertCat]

46. And even if these numbers are higher than what reality might allow....

..... this is the DIRECTION we need to be going in.

[iandhr]

49. Truman once said.

"Give me a one armed Economist. Economists are always telling me on one hand but on the other"

There is a line in the West Wing where Charlie is talking the the President. He asks him " Economists just make it up as the go along don't they." Bartlett says "yes"


Tomorrow another "top economist" will say Sanders plan will lead to depression.


There are so many variables to everything in the economy that the experts both Keynesian and Friedmanites are often off in their predictions.

[amborin]

52. voters realize this