President Joe Biden’s Secretary of Commerce, Gina Raimondo, acknowledged in a recent interview that the U.S. economy was thriving under Donald Trump. Speaking with CNBC’s Sara Eisen, Raimondo was questioned about the potential impact of Kamala Harris’s economic policies on the already substantial U.S. deficit, which is nearing $30 trillion.
During the interview, Eisen cited a report from the nonpartisan Committee for a Responsible Federal Budget, noting that Harris’s proposed plans could increase federal budget deficits by $1.7 trillion. She asked Raimondo, “Neither party is really talking about fiscal responsibility, but the last thing we need now is to add to already very high deficits at a time of low unemployment. Does the party not care about that anymore?”
Raimondo responded by criticizing Trump’s economic policies, stating, “Of course we do. But, honestly, I find it laughable that anyone would criticize Democrats about the deficit when it was Donald Trump who exploded the deficit with his reckless tax cuts, which did nothing to improve productivity or the economy, and, in fact, under his leadership, the deficit exploded, in a time of economic prosperity.”
She added, “Every business owner — as I used to be — every governor, every president knows, in good times, that’s when you want to save and bring down the deficit. So, what Trump did was, somehow, he managed to explode the deficit, even in the middle of a booming economy. So, we know we can’t trust him.”
Raimondo assured that both President Biden and, if elected, Kamala Harris would work with Congress to make responsible investments in areas like infrastructure and job training while ensuring that these efforts do not excessively inflate the deficit.
Despite Raimondo’s defense, critics argue that both parties have struggled to reduce the deficit, and many fear that the current economic strategies of Harris and the Democratic Party could further exacerbate the debt crisis.
Public opinion on the economy, which remains largely negative, is expected to play a crucial role in the upcoming presidential election. Recent data from Pew Research shows that about 73 percent of Americans view strengthening the economy as a top priority, alongside other pressing issues such as illegal immigration, managing inflation, addressing rising crime, and debating abortion rights.