Trump Says Democrats Would Make US 3rd World Country: ‘$350K Per Household’
Summary
President Donald Trump warned that policies linked to the Democratic Socialists of America (DSA) would cost $49 trillion over 10 years, or about $350,000 per household, according to a White House report. The report projected that these policies could cause inflation, higher borrowing costs, lower wages, and job losses, but these are estimates, not actual outcomes.Key Facts
- President Trump shared a White House report estimating a $49 trillion cost over 10 years from certain DSA-linked policies.
- The estimated cost equals roughly $350,000 per American household.
- The report examined proposals like government-run healthcare, canceling student debt, immigration amnesty, and dismantling some law enforcement agencies.
- It predicts inflation could rise up to 160%, mortgage and loan rates could become very high, and workers might see nearly 30% less take-home pay.
- The DSA is a political and activist group, not the Democratic Party, with over 100,000 members nationwide.
- The White House report is based on assumptions about the effects of proposed policies, not on real economic results.
- President Trump used the report to push for voting Republican in upcoming elections.
- The report was titled “The Real Cost of Socialism in America” and was created by the Council of Economic Advisers.
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