Kamala Harris and Donald Trump both plan to boost spending. How would that affect the federal debt?
CBSN
Vice President Kamala Harris and former President Donald Trump have both made numerous promises, some in the realm of vague pledges and others backed by detailed policies, that carry hefty price tags. But Trump's proposals would add twice as much red ink to the nation's debt over the next decade as those advanced by Harris, a new analysis finds.
The report from the nonpartisan Committee for a Responsible Federal Budget (CRFB), a nonprofit group that focuses on fiscal issues, projected that the former president's proposals would increase the national debt by $7.5 trillion through 2035. The vice president's policies would raise the debt by $3.5 trillion, estimates CRFB, which pushes for lower government deficits.
The committee offered a range of estimates in its report due to a lack of specifics in each candidate's proposals. Depending on those all-important details, Harris' proposals could range from having essentially no financial impact on the federal debt to raising it by $8.1 trillion, the group estimates. Trump's plans could expand the debt by between $1.5 trillion on the low side and up to $15.2 trillion, according to CRFB.
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