Hillary Clinton’s false claims
1. Falsely said, “I also will not add a penny to the debt.” (Her tax plan will add $200 billion to the debt, the Committee for a Responsible Federal Budget says.)
A recent report by the Committee for a Responsible Federal Budget projected that Trump’s policies would add $5.3 trillion to the debt in the coming decade...Clinton last night repeated her vow that “I will not add a penny to the debt” with her proposals. However, even if Clinton as president succeeded in persuading Congress to offset the cost of her domestic agenda with $1.4 trillion of new revenue, she would still come up short and add an estimated $200 billion to the long term debt, according to Committee for a Responsible Federal Budget calculations.
Camerota followed that clip with a report from the non-partisan Committee for a Responsible Federal Budget, which rated Clinton’s claim as false. The committee found that Clinton’s plan would actually increase the national debt by $200 billion over a decade. When Camerota asked Kaine to comment, he avoided agreeing with Clinton’s statement and suggested that the costs of Clinton’s financial plan cannot be reliably predicted.
If her spending proposals are taken into account, the national debt would increase an estimated $9 billion over the next 10 years under Clinton, according to analysis by the Committee for a Responsible Federal Budget.
However, it does nothing to reduce the existing $14 trillion public debt or shrink the ratio of debt to Gross Domestic Product, according to estimates by the Committee for a Responsible Federal Budget (CRFB)
Now that the full cycle of debates has come to an end, there is at least one clear winner: the Committee for a Responsible Federal Budget. Near the end of the debate, Mr. Wallace declared, “The Committee for a Responsible Federal Budget has looked at both of your plans, and they say neither of you has a serious plan that is going to solve the fact that Medicare’s going to run out of money in the 2020s, Social Security is going to run out of money in the 2030s.”
“The next president will enter office with the national debt at post-World War II record high levels,” says the Committee for a Responsible Federal Budget. “Debt held by the public currently totals over $14 trillion - nearly 77 percent of Gross Domestic Product (GDP) - and is projected to grow as a share of the economy to almost 86 percent by 2026 and about 150 percent by 2050. This large and growing national debt threatens to slow economic growth and is ultimately unsustainable. Yet neither presidential candidate has a plan to address it.”
A recent report by the Committee for a Responsible Federal Budget, a bipartisan think tank that promotes fiscal responsibility, found that the latest proposed policies from Republican presidential nominee Donald Trump and Democratic presidential nominee Hillary Clinton would increase the deficit by about $5.3 trillion and $200 billion, respectively, over the next 10 years. That's a pretty big difference. As CNBC pointed out, Trump's tax plan increases the deficit 26 times more than Clinton's, enough so that the CRFB found it would total 105% of U.S. GDP.
The nonpartisan Committee for a Responsible Federal Budget did not calculate the cost of such a military buildup, which would likely be hundreds of billions of dollars, but estimated it would ring up an additional $150 billion in deficit spending over the next decades if Congress repealed $450 billion in planned defense cuts.
The federal debt-GDP ratio was 74% last year and will be a bit higher this year. Overall it’s twice what it was pre-Great Recession. The CBO baseline forecast puts that debt figure at 86% — and rising — in 2026. Add maybe 20 percentage points or so if Donald Trump is elected, according to analysis by the Committee for a Responsible Federal Budget.