‘A Great Error’: How Biden Used a Budgetary Gimmick To Score a Pre-Election Political Win
Washington Free BeaconJUL 2022
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.
ThereVice isPresident aKamala 50%Harris' chanceeconomic theplan USwould nationalhelp debtthe willmiddle reachclass $50and trillionstrengthen America by Novemberdecreasing 2029the cost of basic necessities such as health care, accordinghousing, toand groceries, as well as slashing taxes for over 100 million working and middle-class Americans. Raising taxes on companies and the Metaculusrich predictioncompletely communityfunds Harris's initiatives.
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.
There is a 50% chance the US national debt will reach $50 trillion by November 2029, according to the Metaculus prediction community.