by Mitch Kokai
Senior Political Analyst, John Locke Foundation
Sen. Elizabeth Warren (D., Mass.) has backed or proposed plans during her 2020 presidential campaign that total up to $129 trillion in spending over the next 10 years, a Washington Free Beacon analysis shows.
Along with backing the Green New Deal ($94 trillion) and Medicare for All ($32.6 trillion), which total an estimated $126.6 trillion in estimated government spending over the next decade according to various studies, three of Warren’s major proposals alone cost $2.365 trillion: opioids ($100 billion), canceling student debt and offering free public college ($1.25 to $1.565 trillion), and universal child care ($700 billion).
Warren has won praise on the left for saying she has “got a plan” for various issues, and she has proposed an “ultra-millionaire,” 2 percent tax on Americans worth $50 million or more—it rises to 3 percent on Americans worth at least $1 billion—to pay for many of her projects, claiming it will raise about $2.75 trillion over the next decade.
Alongside Rep. Elijah Cummings (D., Md.), Warren unveiled a $100 billion initiative to combat the nation’s opioid epidemic on Wednesday. She wrote in a Medium post that the federal funding would be doled out over 10 years to provide state and local governments resources for prevention, treatment, and recovery.
Last month, Warren pitched a plan to offer universal free public college and cancel up to $50,000 in student loan debt for nearly 45 million Americans. Her own campaign found the price tag to be $1.25 trillion, with eliminating tuition costing $610 billion and forgiving debts costing about $640 billion. The Urban Institute guessed the actual cost of forgiving debts was $955 billion, which would raise the price for the proposal to $1.565 trillion.