Implementing a universal healthcare system like Medicare for All would require a massive increase in government spending—estimated at $32.6 trillion over 10 years, according to a 2022 study by the Mercatus Center. This would be in addition to the U.S. national debt, which surpassed $35 trillion in 2024 and continues to climb. Notably, even without this added cost, the U.S. is already experiencing its highest debt-to-GDP ratio since World War II—equating to over $100,000 in debt per American citizen.

Covering the cost of such an initiative would likely require one or more of the following:

1. Significant tax increases across all income levels, not just for the wealthy
2. Unprecedented government borrowing, further driving up interest payments (already exceeding $800 billion annually)
3. Cuts to other essential government services

Each of these options would carry serious implications for the American public.

Doctors and specialists might lose the financial incentive to provide high-quality care if their earnings are capped under a government-run system. This could result in lower motivation, decreased innovation, and a drop in the quality of care and innovation in the healthcare sector.