While other candidates come up with plans that would easily bankrupt this country, Lizzie Warren is more ambitious and wants to bankrupt the entire world. The estimates on all the money in the world range from 5 to 80 trillion dollars.
Lizzie has endorsed the Green New Deal and Medicare for all. That amounts to about 126 trillion dollars. She also has three plans of her own. Student debt forgiveness and free college for all costs 1.5 trillion dollars. Add another 700 billion for universal childcare and 100 billion to fight opioid addiction.
(Rather than build a wall to keep drugs out) Now, add in the regular federal budget which would be 40 trillion dollars and you are looking at about 170 trillion dollars or about twice the amount of all the cash in the world.
The CIA estimate included what is known as “broad money,” another way of describing the combined total of accessible money around the world, which includes such things as personal bank account balances, money markets, assets and properties, and other intangibles that could conceivably be converted into cash.
The problem with “broad money,” however, is that much of it only exists theoretically as balance figures on digital ledgers, since banks don’t keep vaults stocked full of everybody’s funds and instead loan those funds out to others.
Were everyone in the world to attempt to withdraw their saved money from banks at the same time, only a fraction of the people would actually receive their money before the banks ran dry. Yet, Warren’s few plans would exceed all of the known cash in the world on an annual basis, and the projected 10-year costs of her plans would be more than one and half times all of the theoretical wealth accumulated around the world.