Harris and Trump Economic Plans Set to Increase National Debt
Both presidential candidates propose tax and spending policies that could significantly raise the U.S. debt over the next decade.
- Analyses indicate that both Harris and Trump's economic proposals would add trillions to the national debt by 2035.
- The Committee for a Responsible Federal Budget estimates Harris' plan could increase the debt by up to $8.3 trillion, while Trump's could add as much as $15.55 trillion.
- Neither candidate has proposed substantial reforms to address the rising costs of Social Security and Medicare, key drivers of the national debt.
- The U.S. debt-to-GDP ratio is projected to reach unprecedented levels, potentially surpassing 125% by 2035 under current policies.
- Experts warn that without addressing the rapid growth in entitlement spending, future administrations will face significant fiscal challenges.