US debt would increase under Harris and soar under Trump - study
US debt would increase under Harris and soar under Trump - study
The Facts
The Committee for a Responsible Federal Budget (CRFB), a nonpartisan organization, released a study on Monday predicting that Donald Trump's campaign proposals would double the amount of the US national debt over ten years compared to Kamala Harris's proposals.
Though both candidates' policies would result in trillions of dollars in extra borrowing if implemented, Trump's campaign pledges would raise the rapidly increasing national debt by $7.5 trillion; Harris's would add $3.5 trillion.
The Spin
The growing national debt is a significant concern as it could hinder economic growth, increase interest rates and payments, weaken national security, restrict policy choices, and raise the risk of a fiscal crisis. Both Vice President Kamala Harris and former President Donald Trump are expected to further increase deficits and debt beyond current projections. However, Donald Trump is likely to increase the deficit by a larger margin than Harris.
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A second Trump administration will reverse the worst inflation crisis in 40 years, which the Biden administration's irresponsible economic policy exacerbated. Trump's plan is to defeat inflation and restore prices. Republicans want to make the Trump Tax Cuts and Jobs Act permanent to boost economic growth for all. They plan to eliminate tip taxes for millions of restaurant and hospitality workers and cut taxes further. The GOP wants to make America stronger, more resilient, and more prosperous.