The candidates and the debt

[jon-nyc]

The non-partisan Committee For A Responsible Budget is in agreement with Moody’s and Goldman, Harris far less fiscally irresponsible than Trump.

https://www.crfb.org/papers/fiscal-impact-harris-and-trump-campaign-plans

[Mik]

That was what stuck with me during the VP debate.

[LuFins Dad]

God save us from big government “conservatives”.

[LuFins Dad]

Now, one question. Do you trust Kamala to enact the policies she’s advocating, and do you trust her to only enact those policies?

[jon-nyc]

If she gets elected, there’s about a 90% chance she’ll have divided government. If he gets elected, it’s more like 50/50. So she’s much more likely to be checked than he would be.

[LuFins Dad]

@jon-nyc said in The candidates and the debt:

If she gets elected, there’s about a 90% chance she’ll have divided government. If he gets elected, it’s more like 50/50. So she’s much more likely to be checked than he would be.

Ahh, so a gamble, then?

Question 2 for you and @Mik

The projections are based on the expectation of effective implementations of their respective plans. The projection for the Inflationary Reduction Act assumed that the hundreds of billions of dollars spent would result in broadband across all of America and a robust network of EV chargers. Instead, hundreds of billions have been spent to achieve 2 new EV chargers and no new broadband. This means new money that was not in the projections will need to be spent to finish these projects.

So which administration do you actually expect to enact their proposals in a reasonable and effective manner?

[LuFins Dad]

By the way, the projections are only on the revenue portions of policy, correct? It doesn’t include new spending? Does it project what each plan means for GDP?

[Mik]

On that subject -

https://www.msn.com/en-us/money/markets/the-u-s-economy-is-not-doing-as-good-as-you-might-think/ar-AA1rNyES?ocid=msedgntp&pc=LCTS&cvid=7b003a5fe0884256ac3951ffb0b25227&ei=45

[Klaus]

I saw Trump talk about how he wants to reduce inflation. Wouldn't an excessive budget be an almost certain way to increase inflation? The US is loosing the option to raise interest rates to fight inflation because it would immediately lead to a default...

[LuFins Dad]

@Klaus said in The candidates and the debt:

I saw Trump talk about how he wants to reduce inflation. Wouldn't an excessive budget be an almost certain way to increase inflation? The US is loosing the option to raise interest rates to fight inflation because it would immediately lead to a default...

The plans that Jon are speaking of are revenue, not spending. Trump’s anti-inflationary ideas seem to be based around lowering overhead to US based manufacturing and products. Primarily by flooding the energy market.

[xenon]

Kinda unsettling to see the Republican party move away from fiscal prudence - if even just lip service. There's a couple of times in the last few decades that they even made the Dem administrations run more balanced budgets.

Going forward we'll need fiscal crises to pull us back from the brink.

[Mik]

It will hurt to cut spending. But it will hurt more later. I think it stems for the idea that has taken hold that the government is there to solve everyone's problems.

[89th]

Maybe Trump winning and hiring Elon to cut the fiscal fat isn't such a bad idea.

[jon-nyc]

Elon would oversee the writing of a report. Then congress would say “How cute! He has an opinion!” And Trump would spend away and crush the economy with his tariffs.

[LuFins Dad]

Elon just wants to get his hands on the weather tech.

[George K]

The Tax Foundation:

https://taxfoundation.org/research/all/federal/kamala-harris-tax-plan-2024/

[taiwan_girl]

And because we are equal opportunity

https://taxfoundation.org/research/all/federal/donald-trump-tax-plan-2024/

[jon-nyc]

Weird. Their model doesn’t account for any tariff retaliation.