Seema Nanda, CEO of the Democratic National Committee, was asked on Tuesday how the Democrats intend to pay for a multi-trillion dollar government-run single-payer health care system. She had no idea.
Nanda made the remarks while being interviewed by Yahoo Finance at its "All Markets Summit: America’s Financial Future" in Washington, D.C.
"There has been some analysis of, third-party analysis of a Medicare for all program, what it would be like, how much it might cost is a big issue," the interviewer said. "It would be very expensive, so, if this is going to be a winning issue for Democrats in 2020, how do you answer the question of how are you going to pay for this? Because there have been studies, credible studies that say it would cost $3 trillion dollars a year, you would have to double everybody's taxes or maybe triple everybody's taxes. How do you answer the cost question?"
"I don’t think we’re there yet," Nanda immediately admitted.
"I think what we saw with this Republican Party is we saw an irresponsible tax cut and then we saw an immediate pivot that they … planned to go after Medicare, Social Security, Medicaid next," Nanda said. "It is this president that is causing skyrocketing deficits and now they plan on going after these core programs."
Nanda added: "So, you know, your answer is I don’t know how we’re going to get there, but these are all big conversations that we need to be engaged in.