A new study concludes one thing: Donald Trump and Hillary Clinton are both bad for the United States.
The Committee for a Responsible Federal Budget (CRFB), a bipartisan organization, released the results of its latest analysis on Tuesday, and found that neither the Democratic or the Republican nominee for the White House will grow the national economy or reduce the budget deficit and national debt.
In regards to Trump, the real estate billionaire mogul would stimulate the U.S. economy in the short-term through the means of tax cuts. However, since he doesn’t plan to cut much from the federal budget, the gains would be offset by higher debt loads and bigger deficits.
Meanwhile, Clinton’s tax hikes would improve Washington’s fiscal health. But, once again, her aggressive spending plans would raise the national debt by another $200 billion over the next 10 years – this is in addition to the already projected extra $5 to $9 trillion debt.
The national debt stands at just under $20 trillion. The budget deficit for the current fiscal year is just over $500 billion.
“These increases to the debt come on top of current law projections that show our debt growing by $9 trillion over the next decade,” said CRFB President Maya MacGuineas in a statement “It is clear we are on an unsustainable path and the candidates’ failure to address this issue would have damaging consequences on the future of our economy and the financial well-being of all Americans.”
Next year, a Clinton White House would shave 0.4 percent off the gross domestic product (GDP), while a Trump White House would add 1.7 percent to the GDP. Over the next 10 years, a Clinton administration would experience a 0.1 percent growth, while a Trump administration would cut growth by 0.1 percent.
Here is a chart:
Both administrations will likely go through a recession, and as the WikiLeaks data dump suggests, the Clinton camp is already preparing for the next recession.
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