New Report Says Trump’s Policies Would Add $11.5 Trillion To Debt

|
June 27, 2016 8:39 a.m.

Donald Trump’s economic proposals would “massively increase” the national debt over the next decade, according to projections from the Committee for a Responsible Federal Budget out Sunday.

The “Promises and Price Tags” report released by the nonpartisan, non-profit organization found that Trump would add $11.5 trillion to the debt by 2026, while his Democratic opponent Hillary Clinton would add $250 billion in the same time period.

This striking discrepancy is primarily the result of Trump’s tax reforms, which would cut net taxes by $10.5 trillion over a decade, slashing national revenue. Clinton’s relatively small increase in debt would come mostly from increased spending on college education, infrastructure, paid family leave and other social initiatives. The former secretary of states has proposed several tax increases, primarily on businesses and on the country’s highest earners, to account for the bulk of this new spending.

Other independent analyses of Trump’s economic policies found similarly ominous results. The Tax Policy Center estimated that his tax plan would add nearly $10 trillion to the debt over the next decade, while a recent Moody’s Analytics report determined that his proposals would trigger a recession.

Newsletters
Get TPM in your inbox, twice weekly.
Your subscription could not be saved. Please try again.
Your subscription has been successful.

The nonpartisan Congressional Budget Office predicted that the national debt will rise by another $10 trillion by 2026, bringing debt to 86 percent of Gross Domestic Product, regardless of the economic proposals laid out by the 2016 presidential contenders.

Latest Livewire
Comments are now Members-Only

Non-members are still able to read comments, but will no longer be able to participate. To join the conversation, sign up now and get:

30% Off Annual Prime Membership

TPM strives to build as inclusive a community as financially possible. We offer FREE memberships to those experiencing financial hardship and FREE memberships for students.

View all options
Comments
Masthead Masthead
Founder & Editor-in-Chief:
Executive Editor:
Managing Editor:
Associate Editor:
Editor at Large:
General Counsel:
Publisher:
Head of Product:
Director of Technology:
Associate Publisher:
Front End Developer:
Senior Designer: