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.
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.