Debt To Rise $3.5 Trillion Under Harris; Trump Will Increase It To $15.2 Trillion

A new analysis of Kamala Harris’ and Donald Trump’s economic plans indicates that both would lead to higher deficits, according to a report by Josh Boak for the Associated Press (AP).

The total federal debt held by the public now exceeds $28 trillion and is expected to continue rising as revenues fail to match the growing costs of programs like Social Security, Medicare, and others.

The nonpartisan Committee for a Responsible Federal Budget released the analysis, suggesting that a Harris presidency could increase the national debt by $3.5 trillion over 10 years.

Harris’ campaign argues that her proposed investments in the middle class and housing would be offset by higher taxes on corporations and the wealthy.

Her campaign policy guide asserts that she is “committed to fiscal responsibility — making investments that will support our economy while paying for them and reducing the deficit at the same time.”

In contrast, the analysis projects that former President Trump’s proposals could add another $7.5 trillion to the debt, with a potential maximum of $15.2 trillion.

Trump claims that economic growth under his leadership would be so strong that deficits would not be a concern. The 34-page report highlights the issue of government borrowing, which will face the winner of November’s election.

The total federal debt held by the public now exceeds $28 trillion and is expected to continue rising as revenues fail to match the growing costs of programs like Social Security, Medicare, and others.