What happened
Peter Navarro and Steve Bannon, hosts of War Room, criticized the Democratic Socialists of America (DSA) for their economic plans. They argued that if the DSA were to gain power, they would drive up the national debt by an additional $50 trillion. This would increase the debt-to-GDP ratio to 254 percent by around 2030.
Navarro and Bannon claimed that the DSA's plans, which include Medicare for all, wealth taxes, and the Green New Deal, would lead to a massive transfer of wealth. They stated that the DSA has no plan to grow the economy and instead focuses on redistributing wealth.
Bannon warned that if the DSA's plan were to be implemented, the bond market would react negatively. Navarro added that a high debt-to-GDP ratio would mean that a significant portion of tax dollars would be spent on servicing the debt, rather than on government programs.
