The Committee for Responsible Federal Budget states that both candidates would add significantly to the national debt, with estimates suggesting Trump’s plan could increase debt by $7.5 trillion and Harris’ by $3.5 trillion over the next decade.
According to the report, 'Whoever wins the 2024 presidential election will face an unprecedented fiscal situation upon taking office' highlighting the pressing budgetary challenges for the incoming administration.
The committee emphasized that the economic visions presented by both candidates may only maintain the status quo or exacerbate the national debt crisis, due to a lack of concrete details.
If left unaddressed, the growing national debt could lead to 'an eventual fiscal crisis', urging the need for immediate and thoughtful fiscal policies from the next administration.
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