Hillary Clinton is seeking to continue President Obama’s dismal economic policies through relentless spending and taxing policies, while racking up an uncontrollable debt.
At a rally yesterday, Hillary Clinton had a Freudian slip promising to raise taxes on the middle class:
While her campaign claims that this was just a slip of the tongue, it may become a reality when looking at Clinton’s economic plans. However, even her drastic tax hikes won’t be able to offset all of her new government spending, meaning that the U.S. will have to continue to borrow money to pay for all of Clinton’s proposals.
According to a report released by the American Action Forum, Clinton’s policy agenda would come up $2.2 trillion short despite raising taxes by $1.3 trillion:
Secretary Clinton’s proposals would, on net and over a ten-year period (2017-2026), increase revenues by $1.3 trillion, increase outlays by $3.5 trillion, for a combined deficit effect of nearly $2.2 trillion over the next decade.
Clinton’s plan would send the United States down a dangerous and irrecoverable path of publicly held debt that would approach near$26 trillion by 2026 according to American Action Forum’s director of fiscal policy, Gordon Gray:
Gray found Clinton’s policies for expanding government’s role in family leave and student loans would contribute significantly to the deficit, and in turn a growing national debt that stands at $19.358 trillion.
In fact, the amount of debt held by the public alone would reach $25.825 trillion in 2026 under Clinton’s plan. The amount of debt held by the public today is $13.968 trillion.
Clinton’s empty promises and tireless pandering on the campaign trail would rack up a heavy tab if put into effect, totaling an estimated$3.5 Trillion over ten years. This total includes Clinton’s radical Sanders-inspired proposals, including 3 months of paid leave, so-called free college, childcare subsidies, universal preschool, and costly war on American energy.
All this new spending and debt would come at the expense of American jobs and taxpayer dollars. Clinton’s costly proposals would send the country’s debt spiraling toward a point of no return, a deeply troubling thought for all Americans, leaving future generations to pick up the pieces of destructive Clinton administration.