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Report: Trump proposals would add $5.3 trillion to debt

Posted 10:57 a.m. Thursday
Updated 10:59 a.m. Thursday

Republican presidential candidate Donald Trump speaks with Steve Staub, right, president of Staub Manufacturing Solutions and his sister, Sandy Keplinger, vice president, Wednesday, Sept. 21, 2016 in Dayton, Ohio. (Ty Greenlees /Dayton Daily News via AP, Pool)

— A new analysis from a nonpartisan group finds that Donald Trump's latest tax proposals would increase the federal debt by $5.3 trillion over the next decade, compared with $200 billion if Hillary Clinton's ideas were enacted. The Trump campaign disputed the findings.

The Committee for a Responsible Federal Budget looked at Trump's newly revised tax plan as well as other proposals. However, it says its analysis can't be certain of the actual size of Trump's tax plan because his campaign won't spell out how it will treat certain businesses' tax liabilities. The committee took a "mid-range guess" between two estimates provided by the nonpartisan Tax Foundation.

When Trump introduced his economic plan last week, he vowed that his tax cuts would be paid for partly by triggering record economic growth. The committee was skeptical and presumed these steps would generate no new growth. Several economists have projected that Trump's economic agenda — especially his restrictions on immigration and trade — would slow economic growth and possibly cause a recession.

Trump has also proposed a sharp increase in spending on the military and veterans. He has proposed some spending cuts, but the committee calculated they wouldn't come close to balancing the budget.

Trump economic adviser Peter Navarro disputed the analysis, criticizing it for failing to account for the growth he says Trump's policies would release.

"No tax cut would ever make sense from a purely budgetary perspective in a static world," Navarro said. "It's even sillier for this group to ignore the trade, regulatory, and energy policy reforms that provide positive revenue offsets in the trillions of dollars."

The cost of Clinton's plan comes largely from her proposals for free college in some circumstances, child care aid and universal pre-K for 4-year-olds. She proposes paying for them with tax hikes on the rich and businesses.

5 Comments

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  • Charles Foster Sep 22, 9:16 p.m.
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    Copying the Democrat playbook. 5.3 trillion is more like Obama.

  • Edward Anderson Sep 22, 12:19 p.m.
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    Blahblahblah. more trickle-down economics. It didn't work for Reagan, it didn't work for Bush or Bush Jr. what makes Donnie think it'll work for him?

  • Barney Gravel Sep 22, 10:20 a.m.
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    If we are discussing the method of promising candy to children this has been the Democrat playbook for 84 years, since FDR in 1932. If you looked at Hillary's 1st TV commercials in NC, her narrative was about all the giveaways she had enabled. The only real solution is Gary Johnson the libertarian, but in truth: the majority is comfortable with the Obama misery. I know my equity funds have done very well the past 7 years, but Obama has done that on the backs of the people who voted for him. Quite the irony. Further if you look at the webpage for this "non-partisan," think tank they really are not non-partisan.

  • Russ Bullock Sep 22, 9:48 a.m.
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    This guy is just promising candy to children in order to get elected. Nothing new, just more over the top than ever.

  • Paul Donovan Sep 22, 8:45 a.m.
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    Baloney, let's wait for the government office to score his total package and the impact to the economy. They even said they are guessing.