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August 8, 2018

UNEXPECTED HEADLINES: Democratic Socialist Agenda To Cost $42.5 Trillion In Next Decade, Says … Vox?

Now wait just a minute, some astute readers will protest, that doesn’t sound like the Vox we know. And you’d be right — because to Vox’s credit, they offered some space to analyst Brian Riedl of the Manhattan Institute. Riedl also previously served as adviser to Senators Rob Portman and Marco Rubio, as well as Mitt Romney, and did a gig as staff director for the Senate Finance Subcommittee on Fiscal Responsibility and Economic Growth.

Riedl has extensive experience in estimating legislative proposals and their costs, which comes in handy even when analyzing pie-in-the-sky proposals. Using projections primarily from either liberal or libertarian-leaning resources, Riedl patiently totes up the costs from all of the above to get a final cost for the first decade of Democratic Socialism — $42.5 trillion in new spending.

And that’s before the ripple effects create the need for even more spending, which creates even more ripple effects, etc., until a once-wealthy country is ruined.

Unexpectedly, of course.