Here’s the Penn Wharton Budget Model breakdown for how much each candidate’s economic proposals will affect the national debt:“We estimate that the Trump Campaign tax and spending proposals would increase primary deficits by .8 trillion over the next 10 years on a conventional basis and by .1 trillion on a dynamic basis that includes economic feedback effects. Households across all income groups benefit on a conventional basis.”“We estimate that the Harris Campaign tax and spending proposals would increase primary deficits by .2 trillion over the next 10 years on a conventional basis and by .0 trillion on a dynamic basis that includes a reduction in economic activity. Lower and middle-income households generally benefit from increased
Topics:
Joel Eissenberg considers the following as important: Harris budget proposals, national debt, politics, Taxes/regulation, Trump budget proposals, US EConomics
This could be interesting, too:
Angry Bear writes Early Read on Existing Home Sales in August
NewDealdemocrat writes Industrial and Manufacturing Production Rebounded Strongly in August
Angry Bear writes Lots of Shoulds and Coulds in a Recital of a Potential Heart in the Harris-Walz Economic Policies
Angry Bear writes A strong dollar is good news for most of us — but not everybody wins
Here’s the Penn Wharton Budget Model breakdown for how much each candidate’s economic proposals will affect the national debt:
“We estimate that the Trump Campaign tax and spending proposals would increase primary deficits by $5.8 trillion over the next 10 years on a conventional basis and by $4.1 trillion on a dynamic basis that includes economic feedback effects. Households across all income groups benefit on a conventional basis.”
“We estimate that the Harris Campaign tax and spending proposals would increase primary deficits by $1.2 trillion over the next 10 years on a conventional basis and by $2.0 trillion on a dynamic basis that includes a reduction in economic activity. Lower and middle-income households generally benefit from increased transfers and credits on a conventional basis, while higher-income households are worse off.”
So if you think the national debt matters, it will grow faster under the Trump plan. If you think federal taxes should be progressive, the Harris plan is for you.
Of course, budgets originate in Congress, not the White House, so these prophecies are highly contingent on which party controls Congress. Also too, it’s not the debt that matters, it’s the debt/GDP ratio.