Deficit spending for Single payer would require borrowing a lot
CRFB 20, The Committee for a Responsible Federal Budget is a nonpartisan, non-profit organization committed to educating the public on issues with significant fiscal policy impact, DOA 6/30/23, “Choices for Financing Medicare for All”, March 17th 2020, Committee for a Responsible Federal Budget, https://www.crfb.org/papers/choices-financing-medicare-all#:~:text=Assuming%20no%20changes%20in%20projected,percent%20of%20GDP%20by%202030. ,// JL
More than double the national debt to 203 percent of the economy. Federal debt held by the public currently totals about $17 trillion, or 80 percent of GDP. Under current law, debt is projected to reach 98 percent of GDP by 2030. Assuming no changes in projected interest rates or economic growth, deficit-financing Medicare for All over the next decade would require nearly $34 trillion of new borrowing including interest, which is the equivalent of 105 percent of GDP by 2030. As a result, debt would rise to 203 percent of GDP, more than double its currently projected level. This would put debt in 2030 at almost five times its historic average of 42 percent and nearly twice the historic record of 106 percent (set after World War II). Under different cost assumptions, debt could rise by as little as 89 percent of GDP and as much as 124 percent of GDP. Debt would continue to grow rapidly beyond 2030.