Study says Bernie Sanders' tax plan could nearly double national debt

Before you go, we thought you'd like these...
Before you go close icon

Study Says Bernie Sanders' Tax Plan Could Nearly Double National Debt

A new analysis of Sen. Bernie Sanders' tax plan suggests the Democratic candidate might be biting off more than he can chew.

The Tax Policy Center looked at what Sanders is proposing to spend versus how much he would increase taxes. According to its research, the plan would add about $18 trillion to the national debt by 2026.

SEE ALSO: Professor plans to teach course on 'the Trump factor'

It's easy to see why a Sanders presidency would increase spending. He wants to implement single-payer health care and eliminate tuition for public universities, all while expanding family and medical leave and social security. And the tax increases he wants may not cover those costs.

Sanders on the campaign trail:

11 PHOTOS
Bernie Sanders on the campaign trail
See Gallery
Study says Bernie Sanders' tax plan could nearly double national debt
PHOENIX, AZ - MARCH 15: Democratic presidential candidate Sen. Bernie Sanders (D-VT) speaks to a crowd gathered at the Phoenix Convention Center during a campaign rally on March 15, 2016 in Phoenix, Arizona. Hillary Clinton won the Democratic primary elections in Florida, North Carolina and Ohio, while Missouri and Illinois remain tight races. (Photo by Ralph Freso/Getty Images)
DES MOINES, IA - JANUARY 26: Democratic presidential candidate Sen. Bernie Sanders (I-VT) speaks to the media after holding a campaign event with United Steelworkers Local 310L, on January 26, 2016 in Des Moines, Iowa. Sanders continues his quest to become the Democratic presidential nominee.. (Photo by Joe Raedle/Getty Images)
TOPSHOT - US Senator and Democratic Presidential Candidate Bernie Sanders speaks during a campaign event at the University of Northern Iowa in Cedar Falls, Iowa, January 24, 2016, ahead of the Iowa Caucus. / AFP / JIM WATSON (Photo credit should read JIM WATSON/AFP/Getty Images)
Senator Bernie Sanders, an independent from Vermont and 2016 Democratic presidential candidate, participates in the Democratic presidential candidate debate in Charleston, South Carolina, U.S., on Sunday, Jan. 17, 2016. Hours before Sunday's Democratic debate, the two top Democratic contenders held a warm-up bout of sorts in multiple separate appearances on political talk shows, at a time when the polling gap between the pair has narrowed in early-voting states. Photographer: Patrick T. Fallon/Bloomberg via Getty Images
NEW YORK, NY - JANUARY 05: Democratic presidential candidate Sen. Bernie Sanders (I-VT) shakes hands with supporters after outlining his plan to reform the U.S. financial sector on January 5, 2016 in New York City. Sanders is demanding greater financial oversight and greater government action for banks and individuals that break financial laws. (Photo by Andrew Burton/Getty Images)
LEBANON, NH - NOVEMBER 11: Presidential candidate Bernie Sanders (I-VT) marches in the Veterans Day Parade November 11, 2015 in Lebanon, New Hampshire. Sanders goes into the Democrats second debate this weekend still running strong in the polls.(Photo by Darren McCollester/Getty Images)
Senator Bernie Sanders, an independent from Vermont and 2016 Democratic presidential candidate, speaks at the Congressional Hispanic Caucus Institute conference in Washington, D.C., U.S., on Wednesday, Oct. 7, 2015. While next Tuesday's first Democratic presidential debate will probably lack the name-calling and sharp jabs of the Republican face-offs, there's still potential for strong disagreements between the party's leading contenders. Photographer: Andrew Harrer/Bloomberg via Getty Images
Democratic Presidential candidate Senator Bernie Sanders speaks about the Workplace Democracy Act on Capitol Hill in Washington, DC on October 6, 2015. AFP PHOTO/JIM WATSON (Photo credit should read JIM WATSON/AFP/Getty Images)
US Senator from Vermont and Democratic presidential candidate Bernie Sanders addresses striking low-wage contract workers from the US Capitol and religious leaders at the Lutheran Church of the Reformation in Washington, DC, on September 22, 2015 for an interfaith service ahead of the arrival of Pope Francis for a six-day visit to the US. AFP PHOTO/NICHOLAS KAMM (Photo credit should read NICHOLAS KAMM/AFP/Getty Images)
MANCHESTER, NH - SEPTEMBER 19: Democratic Presidential candidate Senator Bernie Sanders (I-VT) talks on stage during the New Hampshire Democratic Party State Convention on September 19, 2015 in Manchester, New Hampshire. Five Democratic presidential candidates are all expected to address the crowd inside the Verizon Wireless Arena. (Photo by Scott Eisen/Getty Images)
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

It's estimated his tax plan would provide an extra $15 trillion in tax revenue but that the country would end up spending over $33 trillion more than under President Obama.

To put that into perspective, the national debt has climbed by almost $9 trillion during the Obama administration and currently sits at around $19.2 trillion.

It went up nearly $5 trillion under former President George W. Bush. No previous president saw the debt go up by more than $2 trillion.

SEE ALSO: Notable people found in the 'Panama Papers' so far

It's important to note that this is just one analysis. The Committee for a Responsible Federal Budget estimated that Sanders' spending plan would add anywhere between $2 trillion and $15 trillion to the national debt. That's a pretty big gap.

The Sanders campaign also weighed in, saying the study "wildly overestimates" medical costs, arguing health care would be made much cheaper by eliminating bureaucracy and dropping prescription drug prices.

Read Full Story

Sign up for Breaking News by AOL to get the latest breaking news alerts and updates delivered straight to your inbox.

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

Large Numbers Of Horses Are Being Stuffed Into These Crates For A Despicable Reason Large Numbers Of Horses Are Being Stuffed Into These Crates For A Despicable Reason
13 People Recount Their First Kiss Horror Stories 13 People Recount Their First Kiss Horror Stories
Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going