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Study: Clinton's proposals would not significantly increase national debt

Study: Clinton's proposals would not significantly increase national debt

Campaign proposals from Democratic presidential candidate Hillary ClintonHillary Diane Rodham ClintonHillary Clinton to speak at Asian Americans and Pacific Islanders summit More than half of eligible Latinos voted in 2020, setting record Fox News signs Trey Gowdy, Dan Bongino for new shows MORE would not significantly increase the debt levels projected under current law, the Committee for a Responsible Federal Budget (CRFB) said in a report Monday.

The former secretary of State’s proposals would cost $1.8 trillion over 10 years with interest and would be almost completely paid for by $1.6 trillion of offsets. The $200 billion gap may be more than fully covered by a corporate tax reform plan whose specifics have yet to be released, the CRFB said.

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Clinton’s spending proposals include her plans for debt-free college, expanding ObamaCare and increasing infrastructure spending. Her spending initiatives would largely be offset by tax increases on the wealthy.

The group was encouraged by the fact Clinton proposed specific offsets for her spending proposals.

“Paying for new initiatives is an important and necessary step to ensuring the nation’s fiscal health does not further deteriorate,” it said.

While Clinton would not substantially increase the debt over 10 years, she also would “keep debt at post-war record-high and rapidly growing levels,” the group noted.

The Congressional Budget Office estimates that publicly held debt will increase from 74 percent of gross domestic product (GDP) last year to 86 percent of GDP by 2026, and the CRFB said that would remain the case if Clinton’s proposals were enacted.

If Clinton were to provide full sequester relief for discretionary programs without offsets, debt would increase to 90 percent of GDP, the group said.

The candidate would have to propose additional tax increases and/or spending cuts to pay for rolling back sequestration and reducing the debt, which could be difficult given her pledge to not raise taxes on those making less than $250,000, the CRFB said.

“Even so, given that her proposals are largely paid for, it remains possible for Secretary Clinton to offer a viable deficit reduction plan, and we encourage her to do so,” the group said.

Unlike Clinton’s proposals, the proposals of fellow Democratic candidate Bernie SandersBernie SandersStudy: Early unemployment cutoff would cost 16M people 0B Machine Gun Kelly reveals how Bernie Sanders aided him in his relationship with Megan Fox Overnight Health Care: CDC approves Pfizer vaccine for adolescents aged 12-15 | House moderates signal concerns with Pelosi drug pricing bill | Panel blasts COVID-19 response MORE and Republican presidential candidates Donald TrumpDonald TrumpProject Veritas surveilled government officials to expose anti-Trump sentiments: report Cheney: Fox News has 'a particular obligation' to refute election fraud claims The Memo: What now for anti-Trump Republicans? MORE and Ted CruzRafael (Ted) Edward CruzSenate panel deadlocks over Biden pick to lead DOJ civil rights division Yang: Those who thought tweet in support of Israel was 'overly simplistic' are correct CNN asks Carol Baskin to comment on loose Texas tiger MORE would add trillions of dollars to the debt, the CRFB has found.

Over a decade, Sanders’s plans would increase the debt by $2 trillion to $15 trillion, Trump’s plans would raise the debt by $12 trillion to $15 trillion and Cruz’s plans would raise the debt by $12.5 trillion, the group estimates.