White House: Democratic Socialists’ policies would add $49 trillion to federal deficits

The White House released an analysis this month estimating that policies in the Democratic Socialists of America’s agenda would add roughly $49 trillion to federal deficits over 10 years.

The Council of Economic Advisers’ summary report, The Real Cost of Socialism in America, examines the economic effects of eight policy areas from the organization’s 2026 “Workers Deserve More” program.

Spread across American households, the projected deficit increase amounts to approximately $355,000 per household over the decade, according to the analysis.

The council examined proposals for Medicare for All, student debt cancellation and free undergraduate tuition, universal rent control, a 32-hour workweek, and an annual wealth tax on billionaires. It also assessed immigration, climate, and policing policies. ---More...