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Trump, Harris Plans Would Add $11,000,000,000,000 To US National Debt: Nonpartisan Think Tank Forecast

Author: Content Editor
A new study from the Committee for a Responsible Federal Budget (CRFB) states that the campaign promises of former President Donald Trump and Vice President Kamala Harris would significantly increase the national debt. The CRFB estimates that Trump's tax and spending plans would increase the debt by approximately $7.5 trillion over the next decade, while Harris' plans would add about $3.5 trillion. In total, their proposals would add a whopping $11 trillion to the national debt. The CRFB cautions that the growing national debt poses risks to the economy, national security, and policy choices. The study found that neither candidate has presented a plan to address the rising debt burden. The CRFB used a range of potential outcomes in its analysis, with estimates showing Trump increasing the debt by anywhere from $1.45 to $15.15 trillion and Harris increasing it by anywhere from $0 to $8.1 trillion. The CRFB highlights specific initiatives from both candidates that contribute to their impact on the debt. Harris' initiatives include expanding tax credits, increasing support for housing and healthcare, and expanding spending and tax breaks for various sectors. Trump's initiatives include extending tax cuts, increasing military spending, and improving border security. To offset the costs of their plans, Harris proposes increasing taxes on corporations and high-income households, while Trump suggests imposing new tariffs on imports and making budget cuts.

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