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    Home » What a Harris or Trump presidency would do to the national debt

    What a Harris or Trump presidency would do to the national debt

    webmasterBy webmasterAugust 11, 2024 News 2 Mins Read
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    A new poll from the Marquette University Law School shows Vice President Kamala Harris in a six-point lead among likely voters in the 2024 presidential election. Yahoo Finance Senior Columnist Rick Newman breaks down some of the Harris campaign’s policies and how they may affect the overall economy. "On most things, she basically supports Joe Biden’s policies, implicitly anyway. And she has she has been actually pretty careful not to talk very much about policies because things are going her way as they are. She’s getting criticism for not doing any press conferences or any media interviews," Newman explains. He notes that Harris’s growth in polls is a "gigantic movement" especially before even seeing a post-convention bump. He adds that the real question is where Harris will differ from Biden, and believes that she could push harder on issues like the child tax credit. As for the issue of the US national debt, Newman explains that voters "care about the national debt, but they think somebody else should pay to fix the problem… The fact is, everybody is going to have to give up a little something." He adds that the issue often falls to the wayside since "No politician can tell voters, ‘Oh, in order to address the debt, I’m going to trim Social Security benefits and we’re going to reformulate Medicare,’ or something like that." He notes that former President Donald Trump wants to cut taxes by extending the 2017 tax cuts, which would about $6 trillion to the national debt. Harris wants to pursue other tax cuts which would add about $5 trillion to the national debt. "So both candidates, based on what they say they want to do, are only going to push the debt upward," Newman says.
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