As the national debt soars toward a new and worrisome record, neither President Biden nor former president Donald Trump is likely to bring the tide of red ink under control, experts say.
Trump is pledging to extend the enormous package of tax cuts adopted on his watch and has discussed further reducing taxes for corporations. Biden, meanwhile, also wants to extend the Trump tax cuts for families earning less than $400,000 a year, while calling for nearly $1 trillion in fresh spending over the next decade on social programs — though Biden vows to cover those costs by raising taxes on the rich.
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