Fact check: Bernie Sanders' claims about the economy


On July 30 2018, U.S. Senator Bernie Sanders made the following claims on his Twitter account; his tweet has been liked by almost 8,000 and retweeted by over 3,600 persons.

Bernie Sanders on Twitter

40 million Americans still live in poverty -30 million have no health insurance -Half of older workers have no retirement savings And what does Trump’s tax plan accomplish? Make the very, very rich much richer. What a disgrace. https://t.co/cBJn9Lqbb0

Claim 1:

40 million Americans still live in poverty

Fact Check 1:

True. According to a 2018 report from the United Nations Human Rights Council, approximately 40 million Americans live in poverty, with about 13.5 million of those living in extreme poverty and approximately 5.3 million poor Americans living in “Third World conditions of absolute poverty”.

Claim 2:

30 million have no health insurance

Fact Check 2:

Mostly True. According to 2017 data released this year by the U.S. Department of Health and Human Services, 29.3 million Americans reported that they lacked health insurance. Which puts Sanders’ number at about 700,000 over the mark.

Claim 3:

Half of older workers have no retirement savings

Mostly True. The trouble comes in defining what “older workers” means. The Government Accountability Office (GAO) determined it to be 55 years. Using 2013 data from the Survey of Consumer Finances,  GAO found that 52 percent of Americans over the age of 55 had no retirement money except social security. Though 23 percent of this group have some sort of defined benefit pension plan, including work sponsored IRAs.

These two charts are excerpted from the GAO report, both show different details about various ways of income for different age groups.

 

 

 

Help us fact check his claims by citing trusted sources, and try directly editing this report.

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