A recent study conducted by the Committee for a Responsible Federal Budget has revealed that Donald Trump’s proposed policies would add $4 trillion more to the US national debt over the next decade compared to those of Democratic vice-presidential candidate Kamala Harris. According to the study, Trump’s tax cuts and increased government spending would significantly contribute to this substantial increase in debt.
The study’s findings shed light on the potential economic consequences of Trump’s policies, particularly in light of the current economic challenges brought about by the COVID-19 pandemic. While Trump has touted his economic record and promised to continue lowering taxes and increasing infrastructure spending if re-elected, the study warns that such measures would further burden future generations with a ballooning national debt.
On the other hand, Harris’s policies focus on investing in healthcare, education, and combating climate change, which could have a more modest impact on the national debt. The study suggests that Harris’s proposals would only add $2.5 trillion to the national debt over the next decade, significantly less than Trump’s $6 trillion impact. However, the study also acknowledges that there are uncertainties surrounding both candidates’ policy proposals and their potential effects on the economy.
As the US presidential election approaches, the stark contrast in economic policies between Trump and Harris could be a defining issue for voters. The study’s findings highlight the importance of considering the long-term implications of the candidates’ proposals on the country’s fiscal health. With the national debt already exceeding $27 trillion, the next president will face the challenge of addressing the economic fallout from the pandemic while also ensuring a sustainable fiscal future for the US.
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