By The White House | Created at 2026-10-01 22:50:14 | Updated at 2026-10-02 01:36:48
3 hours ago
Today, President Donald J. Trump’s Council of Economic Advisers released a report revealing the severe economic cost – $49 TRILLION, over $350,000 per household – for American taxpayers over the next ten years if the Democratic Socialists of America’s top policies were adopted.
The report titled, “The Real Cost of Socialism in America,” details the scathing reality of their destructive policies:
- Reopening our borders to millions of criminal illegal immigrants
- Handing out amnesty to all illegal aliens in the U.S.
- Abolishing the police, including ICE
- Eliminating prisons, which will unleash criminals into American communities
- Forcing government-run healthcare for everyone
- Canceling all student debt for all borrowers
Make no mistake, these are the Democrats’ policies. They want to destroy our great, hard-fought nation, and plummet our economy and the very fabric of our nation into the ground.
What do those policies really look like?
- Everyday costs for Americans skyrocketing with double-digit inflation, soaring up to 160% over ten years;
- Double-digit interest rates on loans and mortgages for American families at levels not seen in decades, kicking homeownership and the American Dream out of reach
- Huge tax hikes, cutting hardworking Americans’ paychecks by almost 30% less
- Millions of Americans’ jobs will be lost, high unemployment, and less pay for the same work
But under President Trump’s leadership, the United States of America will never be a Communist nation.
In 20 months, President Trump has set the United States back on track and ignited a nationwide renaissance after years of failed Democrat leadership sent our country spiraling into decline. President Trump put money back in your pockets and made our communities safer. America is Back!
- President Trump’s Working Families Tax Cuts put money back in Americans’ pockets and saved millions of working Americans over $82 billion with policies such as No Tax on Tips, No Tax on Overtime, No Tax on Social Security, and permanently doubled the enhanced Child Tax Credit.
- Inflation is coming down, especially on staple items such as beef, eggs, prescription drugs, motor vehicle insurance, and electricity, after the Democrats’ soaring inflation strangled families’ wallets.
- President Trump is making the economy work for hardworking Americans again. America’s industries and manufacturing are surging, adding tens of thousands of American manufacturing jobs and increasing manufacturing wages by more than $3,000 from President Trump’s fair trade and pro-growth policies.
- President Trump added over one million jobs to the American economy in under two years.
- America is Energy Dominant again, with oil and gas production records last year, and more abundant and affordable energy on the way to American families.
- President Trump’s Ratepayer Protection Pledge ensures hardworking Americans and small businesses aren’t footing the bill for America’s industrial-technological boom, and that their prices come down instead.
- President Trump put Americans first and ended the Democrat open border crisis, securing the border and deporting over three million illegal immigrants.
- President Trump made communities safe again with a never-before-seen drop in violent crime, and he is ensuring criminals are put in jail after the Democrats’ war against law enforcement.
- The Trump Administration is bringing housing industry costs down, home prices are falling across the country, and the supply of homes for sale is at a 10-year high.
Only under President Trump is this reversal possible, and there’s much more to come.
