Actually, I think the estimate is low. Right now the government spends $1.7T annually to support Medicare, Medicaid, and the VA (and that doesn't include the cost of active duty and retired military and their families). That budget supports 70 million patients. Our national population is five times that number, so the cost of Medicare for all could be as high as five times the $1.7T, or about $8.5T annually, which is more than twice the existing national budget.

Of course supporters of the "free" medical care argue that it will include many healthy young citizens, bringing down the cost. However, making anything free increases demand, even among those who don't currently need medical care. I witnessed this effect when I was working in Australia in the mid-1970s. The Labor government instituted "free" medical care, and were caught flat footed when the cost threatened to collapse the economy. Rather than cancel the expensive venture, the government tried to sneak a loan (deficit spending is unconstitutional in Australia), which resulted in the Governor General abolishing the Labor government and conducting new elections.

Vermont, home to Bernie Sanders, attempted single payer, and almost immediately cancelled it when the huge bills started rolling in. California conducted a study for Governor Brown to see if the state could afford single payer, and dropped the idea when estimates exceeded $400B/year. If you don't like my high estimate, just multiply the California number by 10, since that state has 10% of our national population, which results in "only" $4T a year (what a bargain!).

I am on Medicare at 72 years of age and it sucks. Cost containment is not paying the physicians enough to support their support staff (whose job it is to fill out forms to be compliant for payment). To have any coverage one must have part D to then get supplemental insurance to cover your a$$ when you are sick. I pay more now than when I was on regular insurance. I trace the whole medical mess back to the time when the IRS granted hospitals tax exempt status in exchange for providing for the poor. And look at the mess we are now in. Had medical care remained a for profit business competition would have controlled the costs plus provided a better delivery system. If Bernie is so in love with single payer how about he move to Canada and get in line for his medical problems. Same in any country with government controlled medical care. What a cluster f***.

Don't forget that even the Obamacare estimates fell horribly short, just as Medicare and SS. I'd double that figure before I felt like it was close to being accurate - not that it is in my mind moral to support such.

the cost keeps going up and the service keeps going down. as alfred e newman said "what me worry" because there is nothing that can be done.

If the estiate is correct (which I doubt) it translates to $3.2T per year. That is mnore than the current total budget. In order to support that as a zero sum game income to the federal gov't would need to double. Just imagine the tax bill then.If the "payer' distribution remains the same, the non-payers will have more disposable income than the Payers. A situation ripe for a "Shrug" if I ever say one.

The tumblers have been kicking in for a long time.

However, such studies are fundamental flawed to an Objectivist. We can't go by pie in the sky projections of what people will do. That Bernie's ideas are idiotic is the flaw, not what some small group of crystal ball readers dream up will happen.

America 2040:
IDIOCRACY!

It's free! It's all free! Just print the money! Wheeee!
http://www.usdebtclock.org/
Bwahahaha! It's all freeeee! Freeeeeee!
https://www.youtube.com/watch?v=hnzHt...

Anything that is free, becomes too expensive to afford. That is why the health systems in Britain or Canada now limit what medical services you can get. You can die before you get medical help.

For those who might be a little shaky on what socialism is:

https://mises-media.s3.amazonaws.com/...

They just need to get the doctors to all agree to work for free...or to pay to work. There you go! Problem solved! 8^D

For this bad gov't-managing-your-life for all policy to happen the "deplorables" for Trump and the gov't-handout-fans for Sanders would have to figure out they're basically the same. I do not know if/when they will. If there's a figure who can unite them and somehow get a decent portion of the "normal" people who do not blame their problems on others or delight in messing with people, we'll be in deep trouble.

I seriously hope they'll keep on calling each other names and blaming the world's problem's on one another while the world goes about the business of living and pursing happiness. I see them figuring out they're the same as a somewhat-unlikely but real threat. I've taken a turn for the pessimistic. I hope I find out I'm wrong. Maybe these Medicare-for-all people and make-American-great-again people are not what I think.