The US spends ~$1.1T/year on Medicare today. US health care spending is estimated to continue rising and will reach nearly $6T a year by 2027. That means according to the federal government, the US will spend around $42.9T on health care over the next decade if we maintain the status quo. A recent study by Yale epidemiologists found that Medicare for All would save around 68k lives a year while reducing U.S. health care spending by around 13%, or $450B a year.

(for comparison, the DoD consumes ~$1T of spending, and debt interest costs ~$867B, annually as of this comment)

Citations:

https://usafacts.org/answers/how-much-does-medicare-cost-the...

https://www.citizen.org/news/fact-check-medicare-for-all-wou...

https://www.crfb.org/papers/choices-financing-medicare-all

https://www.rand.org/pubs/research_reports/RR3106.html

https://www.pgpf.org/programs-and-projects/fiscal-policy/mon...

https://fiscaldata.treasury.gov/interest-expense-avg-interes...