The Washington Post reposted this
A new debt report from the Committee for a Responsible Federal Budget is out today with a major conclusion: Donald Trump's campaign policies would add more than twice as much to the national debt as Kamala Harris's. Taxes, debt and fiscal policy will define much of Harris’s or Trump’s presidency — and dominate political battles in Washington next year. ▶ Major portions of Trump’s 2017 tax cut expire in 2025, and without new legislation, individual tax rates will increase sharply. ▶ Congress’s nonpartisan bookkeeper projects the nation’s debt-to-GDP ratio, a key metric of financial health, will reach a new all-time high within the next decade, imperiling financial stability. ▶ Social Security and Medicare will also be insolvent by 2035 and 2036, respectively, forcing mandatory benefits cuts by those dates without congressional action. “Despite the fact that our fiscal situation is really unhealthy, we have two candidates whose proposals, if looked at comprehensively, would make the situation worse rather than better, with a noticeable distinction that former president Trump would make it significantly worse,” CRFB President Maya MacGuineas told me. Read more in The Washington Post. #economics #nationaldebt #policy #Congress #campaign