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.
Ed Lorenzen, a senior adviser with the Committee for a Responsible Federal Budget, said the House’s plan will lead to a risky “self-created emergency.”
“Supplemental bills have a way of becoming a Christmas tree that other things get added to,” he said.
“If we find ourselves next March or April with a must-pass emergency supplemental to provide war funding, that will be really attractive for members to attach other unrelated spending.”
Using the House approach to funding might make it difficult to get the bi-partisan support in the Senate necessary to get a bill to the president’s desk, Lorenzen said.
Under the plan put forward by Mr. Trump, the presumptive Republican nominee, the U.S. debt would grow to 127% of the entire economy, up from 75% today, according to the analysis by the nonpartisan Committee for a Responsible Federal Budget, which advocates bringing down the national debt.
Neither of the presumptive presidential nominees have put forth ideas to address the debt, but Trump's plan would increase it by far more than Clinton's, the non-partisan Committee for a Responsible Federal Budget (CRFB) said in a report to be released Monday.
There are many stark differences between Hillary Clinton and Donald Trump.
One of the starkest is how their proposals would affect the country's fiscal trajectory in terms of spending, taxes and debt.
The analysis, which the nonpartisan Committee for a Responsible Federal Budget published Sunday evening, represents one of the first serious efforts to assess how electing Trump or his chief rival for the presidency, former Secretary of State Hillary Clinton, might affect federal finances over time.
Based on his campaign trail promises, Trump would add $11.5 trillion to the federal debt, the Committee for a Responsible Federal Budget found, sending the debt as a share of economic output from 74 percent today to 127 percent in 2026.
Which presidential candidate will reduce US debt? Head of the Campaign to Fix the Debt, Maya MacGuineas compares Trump and Clinton's economic proposals.
“Including numbers for growth rate in premium support and tax credits would allow Democrats to calculate how much more seniors and low-to-moderate income working people would have to pay for health care,” said Ed Lorenzen, a senior advisor at the Committee for a Responsible Federal Budget. It would be “most problematic for internal Republican conference politics if there was enough detail for CBO to provide a cost estimate [and] the net savings would be drastically less than their budget assumed, which would cause heartburn for the Freedom Caucus.”
On Medicare, Clinton wants to give the government authority to negotiate drug prices but doesn't see a need for major restructuring. Advocates, meanwhile, want Medicare benefits expanded to include dental care, vision and hearing aids.
"Just when you thought we couldn't go any further on pandering, it turns out we have," said Maya MacGuineas, president of the Committee for a Responsible Federal Budget, a nonpartisan group that advocates for reducing federal deficits. The election is perpetuating a myth that nothing needs to be done, she added.