Trump vs. Harris: Who Will Increase the U.S. Debt Most in 2024?

Trump vs. Harris: A Debt Comparison for the 2024 Election

As the 2024 election approaches, the U.S. economy and the escalating national debt remain at the forefront of political discourse. Donald Trump and Kamala Harris have yet to propose tangible solutions to reverse the nation's debt trajectory. Their proposed fiscal policies will further complicate an already precarious financial situation.

Kamala Harris' Debt Projections

• Harris's policies are estimated to increase the national debt by $3.50 trillion by FY 2035.
• This projection is based on $7.25 trillion in deficit-increasing measures against $4.25 trillion in deficit-reducing actions, plus $500 billion in interest costs.
• Under high-cost scenarios, the debt could surge up to $8.10 trillion.

Donald Trump's Debt Projections

• Trump's proposals could add $7.50 trillion to the U.S. debt based on central estimates.
• This comes from $10.20 trillion in deficit increases and $3.70 trillion in reductions, with $1 trillion in interest.
• In a more optimistic scenario, the potential increase is $1.45 trillion, while worst-case projections suggest an alarming $15.15 trillion rise.

The Current State of U.S. National Debt

The national debt surpassed $35.26 trillion in August 2024, equating to around $100,000 per citizen. With economic concerns dominating voter priorities, the rising debt has become the second-largest government expenditure after social security.

Insights from experts like UCLA's Professor Brian Wheaton reveal layers of complexities surrounding the soaring debt figures, emphasizing a need for effective fiscal management strategies.