CNN reports in “Under Sanders, Income and Jobs Would Soar, Economist Says” that: “Median income would soar by more than $22,000. Nearly 26 million jobs would be created. The unemployment rate would fall to 3.8 percent.
“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.”
Professor of economics at the University of Massachusetts at Amherst, Friedman’s work was the basis for attacks on Sanders in the Wall Street Journal, which the Clinton campaign seems to have be drawn from and which Friedman has previously debunked.
By Gerald Friedman
Find a pdf version of this statement here.
Thorpe’s expertise and reputation have added weight and authority to his attack on Senator Sanders’ program for Medicare-for-All. (See footnote 2.) This makes it all the more important that his analysis receive the type of scrutiny due a serious policy proposal. Unfortunately, Kenneth Thorpe does not provide enough documentation to make an explicit comparison between his estimates and those provided in detail by the Sanders campaign. He lists his projected Federal spending per year, he fails to explain how he calculated these numbers. While this failure makes it impossible to consider his claims on a point by point basis, it is possible to extract enough from his statement to conclude that his analysis is so deeply flawed that it implies some clearly unrealistic assumptions.
Subject to the caveat that Professor Thorpe fails to provide adequate documentation, there are several clear differences between the approach he follows and that followed by the Sanders campaign (summarized in Table 1 below): Read the rest here