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
***
Would you like to gain a deeper understanding of politics? If so, sign up for Spencer Fernando’s Exclusive Political Analysis Newsletter on Patreon. Join the Exclusive Political Analysis Tier for $20-a-month at the link below to gain full access:
EXCLUSIVE POLITICAL ANALYSIS NEWSLETTER
If you would like to make a one-time contribution to support Spencer Fernando’s writing, you can do so using PayPal at the link below:
Canada's story is decided in decades, but the news is written by the day. The Long Work is where I write at the longer range: full essays on where this country is actually headed, now expanding to two every week, funded by readers alone, so the analysis answers to no advertiser, no party, and no one but you.
Members read every essay as it's built and help shape what gets built next. The opening stretch of every essay is free to read, so you can judge the work before you back it.
It's $8 a month, cancel whenever you like, and every member makes the next essay possible. Join the readers building the longer view.