Skip to content

Stand with Trump. Save the nation. Secure the elections. Congress does what we say.

Empty budget room. A slide that reads $34T. It does not fit.

The Hearing · 5 · 6 min

It does not fit.

Medicare for All is not a slogan. It is $32–34 trillion in extra federal spending in ten years — more than a full year of everything America produces — on a Treasury that already cannot close a $1.9 trillion hole.

Renee Stewart · 2026-09-04 · © 2026 Renee Stewart. All rights reserved.

They say the word and wait for the applause. Medicare for all. As if a chant were a score. The left-of-center Urban Institute already did the arithmetic they will not put on a slide: taking private insurance off the table and writing every hospital check from Washington adds about $32 trillion to $34 trillion in extra federal spending over ten years. Charles Blahous at Mercatus, using Sanders’s own bill, put the floor at $32.6 trillion even if every promised ‘saving’ comes true. The Committee for a Responsible Federal Budget put the range at $25 trillion to $35 trillion. That is not a Republican press shop. That is the file.

A plan that needs a second America to pay for it is not a plan. It is a demolition order with a smile.

What the country actually has

CBO, March 2026. Fiscal year 2026: the Treasury takes in $5.6 trillion. It spends $7.4 trillion. The hole is $1.9 trillion — 5.8 percent of GDP — in a year they project unemployment under 5 percent. Debt held by the public is already 101 percent of GDP and heads to 120 percent by 2036. Net interest is $1.0 trillion this year and $2.1 trillion in 2036. Bipartisan Policy Center, August 2026: gross federal debt is in sight of $40 trillion. Medicare, the program they want to clone onto every American, already spent about $1.2 trillion in 2025 covering the old. That is the machine before they hand it the whole country.

The number, in English

  • $34 trillion extra federal / 10 years is $3.4 trillion every year — on top of the $7.4 trillion they already cannot pay.
  • $34 trillion is six years of every tax dollar CBO says the Treasury will collect in 2026 ($5.6T × 6 = $33.6T).
  • $34 trillion is more than one full year of U.S. GDP (~$32 trillion). They are proposing to put a second entire economy through the IRS.
  • The low Urban figure alone is in the neighborhood of the entire gross federal debt. They want to add a debt’s worth of new federal outlays in a decade while the first debt is still compounding.

The talking point is always the same: ‘we already spend it in premiums.’ Urban already netted the private dollars. The $32–34 trillion is the extra load on the federal books after that move. Households do not get a holiday. They get a tax. Employers do not get a holiday. They get a payroll line Washington writes. The hospital does not get a holiday. It gets a government price and a waiting list. The ‘savings’ are a transfer of pain, not a free lunch.

How they would have to take it

CRFB asked the only adult question: if the midpoint is $30 trillion extra federal in ten years, what does the pay-for look like. One of these, or a stack of them:

  • A 32 percent payroll tax — on top of Social Security and Medicare FICA you already pay.
  • A 25 percent income surtax.
  • A 42 percent value-added tax, European-style, on what you buy.
  • $7,500 per person, per year, as a mandatory public premium — a family of four writing a $30,000 check to Washington before a doctor is seen.
  • Double every federal income-tax rate. All of them. Not ‘the rich.’ The whole table.
  • Cut 80 percent of all non-health federal spending — Defense, veterans, borders, courts, interest. They will not. So they borrow.
  • Or add 105 percent of GDP to the debt on top of the 101 percent already there. That is not a country. That is a junk credit with a flag.

CRFB was explicit: taxes on high earners and corporations alone cannot finance it. The slogan that ‘billionaires will pay’ is a caption. The bill lands on payrolls, prices, and the bond market. Anyone who will not pick a row from that list and put a dollar sign on a slide is not offering health care. They are offering insolvency and calling it compassion.

How it destroys the country

Not with a speech. With arithmetic that is already in motion. Interest is the tell. CBO has net interest doubling in a decade under current law — before Medicare for All. Add $3 trillion-plus a year in new federal outlays and the Treasury is not ‘covering health care.’ It is bidding against every mortgage, every factory, every payroll in the market for dollars. Crowded capital is not a theory. It is how a reserve currency becomes a warning label. Hospitals that cannot hire because the reimbursement is a political number. Drugs that do not get made because the price is a press conference. A generation that inherits a 120-percent-of-GDP debt plus a new entitlement that cannot be unwound without a riot in the caption. That is destruction. Slow, official, and on letterhead.

Democrats who run on this without a CBO score, a Joint Committee on Taxation table, and a named pay-for are not confused. They are counting on you never reading the annex. DSA puts it on the same poster as reparations and a jobs guarantee. Cato stacked that program at $71 trillion to $212 trillion in ten years. There are only ten years in the window. That is not a platform. That is a confession that the private economy is the target.

Show the slides. Name the tax. If it will not fit on a slide with a dollar sign, it is not a plan. It is a wrecking ball.

The Hearing’s demand does not change. Prime time. GOP, Democrats, DSA. Medicare for all names the money — Urban’s $32–34 trillion extra federal, or your number if you have one, with the table attached. Anyone who will not, agrees on camera to go home. Independent. No PAC. Not a call to violence. The country is 300 million people. It is not a slush fund for a slogan.

Next in The HearingThe check they will not write.6 min →

← The Dispatch