Trump Promotes White House Report Claiming Democratic Socialist Policies Would Cost $49 Trillion
Trump shares a White House Council of Economic Advisers report asserting that Democratic Socialist policies would cost $49 trillion over ten years, or more than $350,000 per household.
WASHINGTON D.C. — Donald J. Trump promoted a White House report on Truth Social claiming that Democratic Socialist policies would impose a $49 trillion cost on American taxpayers over the next decade, urging followers to vote Republican ahead of the midterm elections.
Here is the full post on truthsocial: “The Democrat Social Agenda would cost Americans TRILLIONS of Dollars if they were elected to Office. America as we know it would be completely destroyed, and make us a Third World Country. We can’t let that happen. VOTE REPUBLICAN! Find out all the details in a new report by the much respected Council of Economic Advisers: https://www.whitehouse.gov/releases/2026/10/new-report-dsa-policies-would-cost-americans-trillions/” on October 2, 2026 at 11:06 PM ET.
This is Trump’s 22nd message released today, and the last post was 4 minutes ago, and it is not part of a thread. On average, Trump produces 18 posts per day since his inauguration on January 20, 2025. The move fits a broader pattern in Trump’s recent messaging, with 66 of his 549 posts over the last 30 days classified as Elections posts.
Trump shared the report by mentioning the source (see whitehouse.gov), directing readers to a White House release titled “New Report: DSA Policies Would Cost Americans Trillions.” The report, issued by Trump’s Council of Economic Advisers, is titled “The Real Cost of Socialism in America” and evaluates eight major policies drawn from the Democratic Socialists of America’s 2026 Workers Deserve More program, according to whitehouse.gov.
A White House press release titled "New Report: DSA Policies Would Cost Americans Trillions" is displayed in WASHINGTON D.C. on 10/02/2026.
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Seven of those eight policies would add roughly $49 trillion to federal deficits over ten years — about $355,000 for every American household, according to whitehouse.gov. Medicare for All alone accounts for $47.4 trillion of that projected total. The remaining items include student debt cancellation and free college at $3.6 trillion, a 32-hour workweek at $920 billion, open borders and amnesty at $527 billion, the Green New Deal at $370 billion, and universal rent control at $16 billion, according to whitehouse.gov.
The report projects two financing scenarios. Under borrowing, 30-year mortgage rates would exceed 12%, prices paid by Americans would rise 130% to 160% over the decade, and federal debt would reach 254% of GDP by 2036, according to whitehouse.gov. Under tax increases, after-tax hourly wages would fall 28.4% — roughly $22,000 in lost annual income per worker — and the average federal income-tax rate would rise to 39.6% from 14.1%, according to whitehouse.gov.
The report also projects specific job losses: up to 6.9 million from a 32-hour workweek mandate, 1.1 million fewer workers from a wealth tax, and 3.3 million fewer rental homes under universal rent control, according to whitehouse.gov. The Green New Deal component would cost households $91,000 each, and the median 401(k) balance would fall by $2,100, the report states.
47th President Donald J. Trump posted a screenshot of a White House report on Truth Social at WASHINGTON D.C.
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The White House release contrasts those projections with claimed Trump administration accomplishments. Working Families Tax Cuts saved working Americans more than $82 billion through policies including no tax on tips, no tax on overtime, no tax on Social Security, and a permanently doubled Child Tax Credit, according to whitehouse.gov. Trump added more than one million jobs in under two years, deported more than three million people who entered without authorization, and the supply of homes for sale has reached a 10-year high, the release states.
All figures originate from the Trump administration’s Council of Economic Advisers and represent the administration’s own analysis. The report does not include independent verification, and its characterizations of Democratic Party positions reflect the administration’s framing. No date has been announced for any independent review or congressional response to the report’s findings.
White House economic reports timed to elections are not new. The Council of Economic Advisers, established under the Employment Act of 1946, has produced politically timed analyses across multiple administrations. Prior reports from both parties drew criticism for selectively presenting data to support the incumbent’s electoral message.
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President Trump is the author of Trump: The Art of the Deal, Trump: Think Like a Billionaire: Everything You Need to Know About Success, Real Estate, and Life, and Think Big: Make It Happen in Business and Life. Analyst and Trump supporter Rod Martin points to The Art of the Deal, Trump's 1987 book, as an explanation of his deal-making philosophy: making big announcements, pivoting often in public statements and, Martin says, ultimately getting what he wanted all along. Critics contend that Trump's books were published decades ago or were aimed at making money, not shedding light. "Generally," Martin said, "critics don't read The Art of the Deal. If they did, they would understand."