On Thursday evening, President Biden and former President Trump engaged in a heated debate that centered on the state of the economy. The national mood on this issue has been low, leading to a passionate discussion between the two leaders.
The opening minutes of the debate saw a range of economic issues being brought up, including inflation, price levels, housing shortages, the impact of Trump’s tax cuts, employment rates, and the recovery from the pandemic-induced recession.
Biden took aim at Trump’s economic policies, arguing that they favored the wealthy at the expense of working-class Americans. He pointed to the large tax cuts and increase in deficit during Trump’s term in office as evidence of this. In response, Trump defended his tariff proposals as a way to improve the U.S. economy and compete more effectively with China.
Analyses by various organizations found that Trump’s economic policies added over $8 trillion to the deficit – twice what Biden’s fiscal policies would have contributed over the same period. The debate underscored the sharp divide between these two leaders on economic matters and their visions for future of country’s economy
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