The Hill: Trump and Biden's Plans Would Both Add to the Debt, Analysis Finds
Article by Naomi Jagoa in The Hill
Campaign plans from President Trump and former Vice President Joe Biden would each add about $5 trillion to the debt over a decade, according to an analysis from the Committee for a Responsible Federal Budget (CRFB) released Wednesday.
Under the budget watchdog’s central estimates, Trump’s plan would add $4.95 trillion to the debt while Biden’s would increase the debt by $5.6 trillion. The estimates exclude spending proposals aimed at addressing the coronavirus pandemic and related economic downturn.
“The country’s large and growing national debt threatens to slow economic growth, constrain the choices available to future policymakers, and is ultimately unsustainable,” CRFB said. “Yet neither presidential candidate has a plan to address the growth in debt. In fact, we find both candidates’ plans are likely to increase the debt.”
Because the candidates’ proposals were often unclear, CRFB released low-cost, central and high-cost estimates of Trump’s and Biden’s plans. The group found that Trump’s plans could increase the debt by $700 billion to $6.85 trillion over 10 years, while Biden’s plans could have an impact on the debt that ranges from a $150 billion reduction to an $8.3 trillion increase.
The watchdog group estimated that Trump’s education and childcare agenda would cost $150 billion, and that his plans for spending on infrastructure, space and supporting Black-owned businesses would cost $ ...
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