2024 Update on National Debt and Deficit

EmpowerUAmerica.org’s Managing Board Member Dan Regenold updates us on the federal debt and deficit --- something he has been doing regularly since 2015.

Dan will share the results of our federal budget in 2024 and bring us up to date on the myriad programs proposed by our presidential candidates. How much will Trump’s programs cost, including cutting the corporate tax rate from 21% to 15%, ending taxes on overtime, the much-discussed tax on tips, and, for seniors, ending taxes on Social Security benefits?

Kamala Harris has her own programs, including raising corporate tax rates to 28%, raising taxes on capital gains, expanding the child tax credit, and expanding aid for senior care. How much will major increases in affordable housing and lowering prescriptions drug cost?

You’ll walk away from tonight’s class with a crib sheet on where we are at, and if it is possible to fix this debt/deficit problem. The US is now spending 50% more that it takes in. Is this path sustainable? Is there a fix that would work?