Fiscal conservatism is nowhere to be found in the US election, and the Republicans have become the more fiscally irresponsible party.
Donald Trump’s domination of the Republican Party has resulted in the near-total wipeout of the party’s fiscally conservative faction.
Now, nationalist populism and pandering have replaced any sense of long-term thinking when it comes to the US budget.
As a result, the Republicans are now significantly more irresponsible than the Democratic Party when it comes to fiscal matters.
That’s the inescapable conclusion of a new report by the nonpartisan Committee for a Responsible Federal Budget.
According to their detailed analysis, Vice President Kamala Harris’s fiscal plan would increase the US national debt by $3.95 trillion. That’s the central estimate for the impact of her proposals. At the high end, her plans could increase the debt by $8.30 trillion, while at the low end, her plans could increase the debt by $300 billion.
Meanwhile, Republican nominee Donald Trump’s proposals would blow the doors off the budget and expand the debt even more than Harris’s. The central estimate is that Trump’s plans would increase the debt by $7.75 trillion, with a high-end estimate of $15.55 trillion and a low-end estimate of $1.65 trillion.
For Americans looking for a fiscally responsible option in the US Presidential race, there is none to be found. For those looking to at least mitigate the damage, the Democratic candidate is the more logical choice.
Spencer Fernando
Photo – Screengrab
