Election Promises: The Billion-Dollar Question

Vice President Kamala Harris and former President Donald Trump are both making big promises to voters. Harris wants to make housing and healthcare more affordable, while Trump aims to support manufacturers and give tax relief. But these plans come with a hefty price tag. A new study says that Harris' ideas would add $3.5 trillion to the national debt over the next decade. Trump's proposals, on the other hand, could spike the debt by $7.5 trillion! Neither has explained how they'd pay for all this.

The Committee for a Responsible Federal Budget found that Harris' plans could cost anywhere from $3 trillion to $8.1 trillion. Trump's proposals have an even wider range, from $1.5 trillion to $15.2 trillion. Both candidates want to extend parts of the 2017 Tax Cuts and Jobs Act, but Trump's plan is more expensive due to extra measures like removing state and local tax deductions. Trump also wants to impose new tariffs on foreign imports to cover his costs. But experts warn that this could make everyday goods more expensive for Americans and trigger a trade war. Congress would need to approve most of these plans, and there's no clear path for reducing the nation's debt, which is already a massive $35.7 trillion.

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