The Fiscal Impact of the Harris and Trump Campaign Plans. Update.

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   tsmogposted 2 months ago

   The Fiscal Impact of the Harris and Trump Campaign Plans by the Committee for a Responsible Federal Budget / US Budget Watch 2024 (Oct 28, 2024)
   Note: This analysis has been updated to incorporate new proposals announced by the candidates since we initially published on October 7.
   https://www.crfb.org/papers/fiscal-impa … aign-plans
   
   A very deep dive into the plans proposed by the candidates. Fire up the coffee pot or pop a beer for this one. A lot to digest, yet does it matter at this stage of the game?
   
   
   
   
   Conclusion (Only the first few paragraphs)
   
   Whoever wins the 2024 presidential election will face an unprecedented fiscal situation upon taking office. The national debt is projected to reach a new record high as a share of the economy only three years from now, well within the next presidential term. Already, the cost of servicing our high and rising national debt has eclipsed the cost of defending our nation or providing health care to elderly Americans. Three important trust fund programs are on track to become insolvent within the next 12 years, putting Americans’ retirement and health care at risk and limiting our ability to continue to update our aging infrastructure.
   
   In the first year of their term, the next President will also face the return of the debt limit, the expiration of the Fiscal Responsibility Act spending caps, and the expiration of several tax and spending provisions that would prove extremely costly to extend.
   
   All these factors raise the stakes of the upcoming presidential election. America desperately needs a leader with the wisdom and courage to make correcting our unsustainable fiscal trajectory a major priority.
   
   Yet, both the Republican and Democratic candidates for President have put forward campaign plans that would, at best, maintain the status quo and, at worst, add tremendously to our debt and deficits. Neither has a plan to fix the imbalances in the major trust funds.

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      Sharlee01posted 2 months agoin reply to this

      It's true that both Republican and Democratic candidates often propose plans that seem aimed at maintaining the status quo rather than addressing deeper systemic issues. However, we should examine the specifics of each candidate's proposals to see which might better navigate these challenges.
      
      Republicans typically emphasize reducing government spending and cutting taxes, arguing that this will spur economic growth and ultimately lead to increased revenue without raising the debt. This approach appeals to those who believe that less government intervention fosters innovation and personal responsibility. However, critics argue that these measures often disproportionately benefit the wealthy and may not adequately address the needs of essential services like education and healthcare.
      
      On the other hand, Democrats generally advocate for increased spending on social programs and infrastructure, aiming to provide immediate relief and create jobs. While this can stimulate the economy in the short term, it risks exacerbating the debt and deficits in the long run without effective strategies for revenue generation or spending cuts elsewhere.
      
      Ultimately, a more effective plan would likely involve a balanced approach that includes responsible spending and revenue generation, alongside reforms to trust funds to ensure their sustainability. Candidates willing to take bold steps to reform entitlement programs and address the underlying issues of the debt could provide a clearer path forward. The real challenge lies in finding leaders who can navigate these complexities without resorting to mere platitudes.
      
      I prefer to see a businessman in office this time who understands that we have pressing issues to address before considering the implementation of costly social programs that, in my opinion, won't effectively reduce our debt or repair the struggling Social Security and Medicare systems. Many may not realize that we’ve reached a critical point where the warnings about Social Security going bankrupt are no longer just talk. This election, we shouldn't take a chance on a liberal candidate who lacks qualifications. We need someone who will hit the ground running on day one to tackle these urgent problems. It's also worth noting that predictions about the economy often miss the mark.

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         tsmogposted 2 months agoin reply to this

         Thanks for the reply . . .

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            Sharlee01posted 2 months agoin reply to this

            Hopefully more will join in. It's an interesting topic.

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               Ken Burgessposted 2 months agoin reply to this

               Whelp... lets look at what they are trying to attempt.
               
               On the foreign side of things, they are trying to defeat Russia so they can carve it up like a Holiday Goose...
               
               If they had been successful, America could have dominated the world for the remainder of our lifetimes, and their efforts at a global NWO controlled by uber powerful international oligarchs would have come true...
               
               Here is why they went for it (other than greed, arrogance, insanity, and a total disconnect from today's global reality):
               
               Energy and Raw Resources
               
               
               
               Natural Gas Resources
               
               
               
               Overall Resources Global
               
               
               
               Russia is sitting on more energy and raw resources than any place else in the world.  Controlling Russia would ensure there could be no rise to global dominance by China, or anyone else.
               
               However, our efforts have been less than perfect, and the best opportunities to make this happen without very high risk of crippling defeat not just militarily, but globally in terms of influence and power have come and gone.
               
               The longer these broadening conflicts against Russia go on, on the global stage in Africa and the Middle East as well as Ukraine... the weaker America's influence and control becomes... while Russia (BRICS) is growing in strength and garnering more allies to it every month.
               
               These efforts in turn have MAJOR impact on our economy...
               
               So, this is one example of how all the talk of budgets and plans is complete nonsense... the people who validate claims as to how much they will cost the Nation in terms of debt are spinning their wheels, just tools being used to propagate incomplete conjecture.
               
               These plans do not encompass the actions and expenses of the nation, what we are currently involved in, or how it will impact the value of the dollar.
               
               https://youtu.be/4Nr85irW3g0?t=130

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                  Sharlee01posted 2 months agoin reply to this

                  The current foreign policy motivations appear deeply rooted in power dynamics and the desire for global dominance, especially regarding the situation with Russia. The notion of carving up a nation for geopolitical aims highlights a significant disconnect from the complexities of today's international relations.
                  
                  Had there been success in weakening Russia, it could have dramatically shifted the balance of power toward the U.S. and its allies, potentially establishing a new world order dominated by powerful international elites. This ambition seems driven by greed and arrogance, failing to recognize the likely backlash and instability such aggressive strategies could create.
                  
                  These actions present a risky gamble that could reshape global alliances and power structures in unpredictable ways, echoing sentiments expressed by analysts about the long-term consequences of interventionist policies. For further insights into these dynamics, you might check out analyses from sources like the Brookings Institution on the geopolitical implications of U.S. strategies or Foreign Affairs for discussions on international relations in the context of power struggles.
                  
                  I agree with your thoughts---Russia's vast energy and raw resources make it a pivotal player on the global stage, and controlling that territory would significantly hinder the rise of China or any other potential global dominators. Unfortunately, our attempts to exert influence in this regard have been less than effective, and the opportunities to achieve this with minimal risk have slipped away.
                  
                  As conflicts with Russia extend across regions like Africa, the Middle East, and Ukraine, America's influence seems to wane, while Russia and its BRICS partners are gaining strength and forming new alliances. This shift not only impacts global power dynamics but also has serious ramifications for our economy.
                  
                  The ongoing discussions around budgets and costs often overlook the reality of our current engagements and the broader implications for the value of the dollar. Many of those who validate claims about the financial impacts seem to be spinning their wheels, as their assessments don't capture the full picture of what we're involved in and how it will ultimately affect the nation's economic stability. This disconnect can lead to misguided policies that fail to account for the real-world consequences of our actions.

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                     Ken Burgessposted 2 months agoin reply to this

                     Pretty much... what could have been attained by partnering with Russia, as Russia was willing to send its vast resources for the EU to use, hence the Nord Stream pipelines...
                     
                     The Biden Administration instead destroyed... just as they destroyed those pipelines... forcing Russia to go outside of the West, outside of SWIFT in order to survive.
                     
                     This process has been going on since Putin got into power... the allies Russia had to rely on, old Soviet Union allies, were toppled one after another... Iraq, Libya, great effort to take down Syria as well... which is where Russia/Putin realized (as we were also heavily involved in Georgia and Ukraine as well) there was no coming to terms with America...
                     
                     America, whether it was Bush, or Obama, or Hillary... was going to keep coming, heedless of Russia's warnings, heedless of Russia's ability to escalate to Nuclear at any time...
                     
                     Trump was a curve ball... Trump was not an establishment groomed pick... Trump was not at all a Internationally recognized political figure... like Hillary Clinton was or John McCain... total servants to the State.
                     
                     So the World, not just America, got a Time Out from the endless wars and endless assault on Society... on Jobs... wages actually started going up because businesses were forced to make the choice to build in America while the influx of cheap immigrant labor was slowed to a trickle.
                     
                     Que the much needed Pandemic to throw what was going so well into total chaos... get a Stooge back into the White House... and double time the effort to make Ukraine boil over... to make the Middle East boil over...
                     
                     Talk about harming American interests while helping China out every where possible... Biden couldn't have been a better Manchurian Candidate for Chinese interests these last 4 years if Xi was in their running things himself.
                     
                     Russia went from sending all its resources to the EU... to sending them all to China, Iran, India, etc.
                     
                     Biden took the US Boot off of Iran's neck allowing them to sell their goods to anyone who wanted them, China took in billions worth from Iran in day one of Biden being in office...
                     
                     When you try to zoom in on any ONE thing, it doesn't make sense... the disastrous withdrawal from Afghanistan, the creeping escalation of war in Ukraine, the sudden attack on Israel, the escalation throughout the region since...
                     
                     But when you take in the whole picture... you see right where it is leading... with North Korea deploying to Ukraine... with Israel's attacks into Iran...
                     
                     We are there folks... there is no backing out of this...
                     
                     The only remote chance is Trump... Harris is just a DOUBLING DOWN on everything that has gone on the last 4 years... overseas and here at home.

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