A Cato Institute analysis says the DSA agenda leaves a gap of up to $169T even after taxing all billionaires
By Eric Revell | FOXBusiness
The policy agenda of the Democratic Socialists of America (DSA) would cost between $71 trillion and $212 trillion in fresh spending over a decade, according to a new analysis.
The progressive wing of the Democratic Party has had electoral success recently, with some candidates backed by the DSA advancing in primaries in the wake of Zohran Mamdani’s election as mayor of New York City.
Angie Nixon, a DSA member in Florida, won the Democratic nomination for the U.S. Senate. Progressives who have touted similar policies as those in the DSA platform have also found recent success in Democratic primaries for U.S. Senate races, with Abdul El-Sayed winning in Michigan and Peggy Flanagan prevailing in Minnesota.
Adam Michel, the director of tax policy studies at the Cato Institute, wrote in the New York Post that the “DSA promises a world of plenty, paid for by somebody else. Simple math says otherwise.”
New York City Mayor Zohran Mamdani, center, celebrates with Sen. Bernie Sanders, I-Vt., and Rep. Alexandria Ocasio-Cortez, D-N.Y. | Andres Kudacki/Getty Images
Michel analyzed the DSA platform and found that while the platform is “thin on details,” he was able to estimate the spending policies would total between $71 trillion and $212 trillion in new spending over the next decade.
He noted that, at the high end of that estimate, the total government spending would reach as high as 92% of U.S. economic output.
“The socialists claim their plan will do away with rent. They’ll make healthcare free and forgive student loans. Their system will provide utilities, college and food at no cost to the consumer,” Michel wrote.
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