Debate Recap: How to Improve the Economy and Reduce National Debt

Blog posted On October 20, 2016

The Presidential Debate series came to a close last night with the third and final debate.  Moderator Chris Wallace posed some hard hitting questions covering poignant topics including how to grow the economy and reduce the national debt. 

In regards to the economy, candidates Hillary Clinton and Donald Trump pose different plans for job growth and stimulus.  Trump aligned himself with conservative principles citing plans to alleviate government regulation and lower taxes.  Clinton proposed more entitlements, more tax credits, and stricter penalties.  

Trump focused on renegotiating foreign trade deals like NAFTA and putting a stop to outsourcing American jobs.  He also advocated free trade with foreign nations like Japan, South Korea, and Germany.  Clinton intends to focus on growing small business, raising the minimum wage, and enforcing equal pay.  She recommended education reform and a reduction in student debt. 

The United States Treasury reported the government’s budget deficit is on the rise for the first time in 5 years to $587 Billion.  The candidates were challenged with an analysis from the nonpartisan Committee for a Responsible Federal Budget that estimated both of their proposals would add to the national debt, with Clinton’s proposal contributing $200 Billion and Trump’s adding $5.3 Trillion over the course of ten years.  Clinton claimed she would not add a penny to the national debt, and Trump said his tremendous job plan would improve GDP. 

The debate closed with promises from both sides to add jobs to the economy and contradicting tax plans: Trump supports tax cuts across the board and Clinton suggests incremental tax increases In regards to federal entitlements, Trump took a hard stance on repealing Obamacare and Clinton proposed funding these programs through proportionate taxing based on income. 

There was no closing handshake and the candidates will not meet again before the election.  The general election will take place on Tuesday November, 8^th.  If you have any questions about finding your local polling place, click here to access resource.  

Sources: MarketWatch, MarketWatch, CBS News, LA Times, CNBC, NJ.com, Vox, USA Today, New York Times, Quartz