Budget Deficits and Claims of Economic Strength: An Analysis of Presidential Debate Disputes

During CNN’s presidential debate, the economy was a contentious issue with both Joe Biden and Donald Trump offering contrasting viewpoints. While Biden highlighted the economic challenges facing the country, Trump boasted about the state of the economy during his time in office.

However, Trump’s claims about the economy were not entirely accurate. Despite his assertions that everything was going well economically and that the U.S. was on track to pay down its national debt before the pandemic, budget deficits were actually increasing under his administration due to the 2017 tax cuts not generating enough revenue as promised. The budget deficit increased significantly during Trump’s time in office, reaching over $3 trillion in 2020 after the pandemic hit. This contradicts Trump’s claim that the economy was strong before the pandemic.

According to a May Gallup poll, about 3 in 10 Americans identified job creation as one of their top concerns, although this encompassed a range of economic issues. Additionally, around 1 in 1 Americans specifically cited high cost of living or inflation as their top concern. Immigration and poor government leadership were also major problems for 2 in 10 Americans each.

Both candidates made mistakes during the debate. Biden incorrectly claimed to have created 15 million jobs when it was actually more than 15,000 jobs created under his leadership. He also incorrectly stated that out-of-pocket costs for insulin were $35 for older Americans on Medicare when legislation signed by President Biden capped it at $35 per month for seniors on Medicare due to legislation signed by President Biden. On the other hand, Trump’s claim that America would be debt-free before