The Committee for a Responsible Federal Budget, the non-partisan fiscal watchdog group that has been taking the lead in tallying up the costs of the presidential candidates' proposals, has previously estimated that $14 trillion in publicly held debt would rise to $23.9 trillion by 2026 under Clinton's plans for raising taxes and boosting domestic spending, while soaring to $35.2 trillion under Trump's proposals for record tax cuts for wealthy Americans and increased defense spending.
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The Committee for a Responsible Federal Budget says that the projected 3.4 percentage point increase in federal health spending over the next three decades can be broken down into two main drivers:
- Aging: 1.5 percent of GDP
- Excess cost growth: 1.9 percent of GDP
Edward Lorenzen, senior adviser at the nonpartisan Committee for a Responsible Federal Budget, questioned whether Freedom Partners’ plan could garner substantial support on Capitol Hill.
The nonpartisan Committee for a Responsible Budget credits her for detailing how she'd pay for her ideas but says she "fails to address our national debt," which will continue to soar.
The Committee for a Responsible Federal Budget projects that Trump’s healthcare proposals would cost between $330-500 billion, and lead to 21 million more uninsured.
Of the 62 guests who appeared during prime-time cable news discussions of economic news and policy, three -- or just under 5 percent -- were economists. Nobel Prize-winning economist Paul Krugman, Moody’s Analytics chief economist Mark Zandi, and deficit hawk Maya MacGuineas of the Committee for a Responsible Federal Budget each made one appearance.
The program’s trustees and the Congressional Budget Office aren’t exactly on the same page, as the Committee for a Responsible Federal Budget notes.
But the Committee for a Responsible Federal Budget, a bipartisan group that advocates fiscal restraint, estimates that Mr. Trump’s plan to cut taxes could raise the national debt by $11.5 trillion over the next decade to roughly $35 trillion in 2026.
In general, Trump distinguished himself from his primary opponents by pledging not to cut entitlement spending even as he proposed tax cuts that the bipartisan Committee For A Responsible Federal Budget estimated would expand the national debt by $12 trillion.