Trump Will Increase US Debt by $11.25 TRILLION - Republican Fiscal Conservative - NOT!
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TL;DR & Weep!
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Date: June 26, 2016 08:27PM
Donald Trump’s economic proposals will push the national debt to its highest level in US history, according to a new non-partisan report.
The analysis, which the nonpartisan Committee for a Responsible Federal Budget was published Sunday evening.
Rather than focusing on individual policy initiatives — like Trump’s call to abolish the estate tax, or Clinton’s pledge to help working parents pay for child care — this new analysis takes into account all of the candidates’ proposals to date, in order to assess how they would alter the federal budget and, ultimately, the level of US National Debt.
As the report demonstrates, it offers a choice between candidate Trump - who’d create huge historic new deficits for the sake of some highly questionable tax cuts — and Clinton whose more modest agenda of expanded government programs, with added revenue, would cover nearly all of their costs.
The centerpiece of Trump’s agenda is a series of proposed tax cuts, including new breaks for businesses and reductions in individual rates, that past studies have shown would disproportionately benefit wealthy Americans. The committee’s researchers, working from estimates by the (also nonpartisan) Urban-Brookings Tax Policy Center, determined that, taken together, the tax cuts would add something like $9.25 trillion in new debt over the next 10 years. (For these and other projections, committee researchers produced three separate estimates to generate a range of possibilities and then used the one in the middle for their main analysis.)
Other items on Trump’s agenda, including his promises to overhaul veteran services and repeal the Affordable Care Act, would add a few hundred billion dollars to that total. With no significant new revenues or spending cuts to offset these costs, and with the higher interest payments that so much new borrowing would require, the cumulative impact of Trump’s agenda would probably be around $11.5 TRILLION in additional federal debt over 10 years, the committee’s researchers found.
I already know the response from Trump supporters will start with tl;dr.
Bottom line - Trump is a 4 x Bankrupt fiscal and debt imbecile that will increase the US Deficit by $11.25 TRILLION.