The Committee for a Responsible Federal Budget has analyzed how each candidate’s plans would impact the federal budget, but this “Medicare for more” idea throws a curveball into its calculations.
According to the non-partisan Committee for a Responsible Federal Budget, Trump’s proposals would swell the national debt by $11.5 trillion over 10 years. By the way, on the subject of taxes, why won’t he release his tax returns?
Trump’s tax and budget plans, by comparison, would add $10 trillion to the federal debt over the next decade, according to the Committee for a Responsible Federal Budget .
As the Committee For A Responsible Federal Budget notes, her unwillingness to reduce spending, reform entitlements, and attack the national debt virtually guarantees weak economic growth for decades.
According to the nonpartisan Committee for a Responsible Federal Budget, the remainder either wasn’t paid for at all ($56 billion) or was offset with phony cuts ($20 billion), like changing pension accounting to front-load corporate taxes.
Today, the United States has a national debt that is over $19 trillion – doubling since 2005 – and according to the Committee for a Responsible Federal Budget, our nation’s annual deficits will triple by the year 2026.
The national debt currently exceeds $19 trillion, and the Committee for a Responsible Federal Budget (CFRB) has warned that the nation’s annual deficits will triple by 2026.
His proposal is backed by Committee for a Responsible Federal Budget, which estimates the yearly budget deficits will triple by the year 2026, if nothing is done.
According to a CBS report, the Committee for a Responsible Federal Budget used the candidates’ policy proposals to project that the federal deficit with Hillary Clinton as president would be 87 percent of Gross Domestic Product (GDP) compared to the Congressional Budget Office’s 10-year projection of 86 percent based on policy currently in place.
For discussion in depth, please see Maya MacGuineas’ article on taxes and budget, “Appropriations Watch” on July 1, 2016. In addition, we published a commentary on MacGuineas’ work.