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Home / US / Sanders reveals plan to cancel all $ 81 billion of US debt

Sanders reveals plan to cancel all $ 81 billion of US debt



B Ernie Sanders published a plan to eradicate all medical debt in the US – $ 81 billion as part of his multi-faceted strategy to dramatically transform health care.

The Democratic presidential candidate's proposal, released on Saturday morning, would not only repeal the debt through negotiations between the government and the collectors, but also reform the means by which debt would be recovered and the system that he says that it only harms people who seek protection by filing applications, improve bankruptcy. His plan would also replace credit bureaus such as Equifax with a public credit registry that ignores medical debt when calculating scores.

"An astonishing 79 million Americans are struggling to pay their medical bills or pay off medical debt, including more than half of those who earn less than $ 40,000 a year" The Vermont Senator said in the statement of Saturday. "Last year alone 8 million people were forced into poverty due to medical expenses."

As motivation for the plan, Bernie also mentioned the high number of Americans who were bankrupted each year as a result of bankruptcy proceedings.

"Indeed, 66.5 percent of all bankruptcies are related to medical problems ̵

1; both because of the soaring costs of care and because of the absence of a patient from work and the resulting expenses and outlays lack of revenue "His proposal said." Studies show that 500,000 people go bankrupt every year due to medical expenses – and the true number can be far higher.

The 500,000 figure comes from an editorial in March's American Journal of Public Health in which Dr. David Himmelstein, the lead author, conducted a sample of bankruptcy filings every year from 2013 to 2016 noted that medical costs are related to 500,000 bankruptcies per year.

Sanders' statement, however, overstates the role of medical debt in causing bankruptcy. "Himmelstein's research does not say that bankruptcies were directly attributable to medical bills; that medical expenses played a role in the financial hardship of these people.

"Often a bankruptcy has multiple causes and it is not possible to solve one of the others," said Himmelstein to the Washington Examiner in an interview recently. "There are quite a few things in life that are more than one e have causes and can not be completely separated. "

Sanders latest proposal complements his platform for the overhaul of the health care system, which he portrays as deadly flawed and profit oriented to wealthy business leaders.

Sanders called for a review of the credit rating system and referred to the 2017 Equifax violation, which revealed millions of private information, adding that Equifax's CEO "paid $ 90 million [] in payday retired. "

Bernie broke away from his Democratic competitors with his plan. While other candidates, notably Senator Elizabeth Warren, have joined Sanders' Medicare for All Act, no one has publicly released a plan to eliminate the estimated $ 81 billion in medical debt.

"Imposing extra stress and extra hardship on someone else's" crime "of becoming ill is immoral, not conscientious and un-American. We will eliminate overdue medical debt, end the predatory tactics of collection agencies, and ensure that non-profit hospitals perform their intended mission, "Sanders said.


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