Opinion

SEN TOM COTTON: Democrats say socialism will help. History says it will hurt

History shows price controls, central planning and government spending produce shortages and inflation, not affordability

By Sen. Tom Cotton Fox News

Published August 13, 2026 7:00am EDT

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Lara Trump warns young voters are being misled about socialism

Lara Trump explains why young voters are drawn to self-proclaimed socialists like Francesca Hong. She warns that education failures leave youth unaware of the historical disasters of socialism and communism.

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Americans are worried about the cost of living — and rightly so. The price of groceries, housing and many everyday necessities rose by roughly 30% under President Biden. While price increases have slowed under Republican leadership, the devastating effects of that inflation remain. Democrats' self-described "socialist" solution — a dramatic expansion of government welfare, regulation and taxation — would make life even more expensive for American families.

History has already run this big government socialist experiment again and again. From Venezuela to Cuba to the Soviet Union, countries that embraced socialism have produced the same results: shortages, inflation, declining investment, fewer opportunities and higher prices for their citizens.

First, look at Venezuela, which has some of the world's largest oil reserves. Venezuela should have been among the wealthiest nations in the Western Hemisphere, but decades of socialist policies — such as nationalizing........

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