A well-respected economist has stated that Bernie’s plan will greatly improve the economy. The plan would help create 26 million jobs and increase the median household income in the United States by $22,000. The analysis also stated that the median household income would increase to $82,000 by the year 2026.
Additionally, the unemployment and poverty rate would decrease. The poverty rate is currently 13.9 percent, and it would decrease to six percent under Bernie’s plan. The unemployment rate is currently 4.9 percent, and it would decrease to 3.8 percent. The economy in America would increase by 5.3 percent.
Gerald Friedman is the economist who analyzed Bernie’s economic plan. He is a professor at the University of Massachusetts Amherst. He has worked for Bernie Sanders in the past, but he has not received any compensation from Bernie or the campaign. The Wall Street Journal posted an article that detailed Friedman’s analysis, but they misquoted what he said.
The Wall Street Journal erroneously reported that Bernie’s plan would cost the country $18 trillion. However, that is the exact opposite of what Friedman’s analysis reported. In fact, Bernie’s plan would actually save the country $5 trillion over the course of 10 years.