Goldman Sachs throws cold water on Kamala Harris
di Valentina Cordero
David Solomon, the CEO of Goldman Sachs, said that Vice President Kamala Harris literally overstated the investment bank’s analysis on the benefits of her economic plans.
During Tuesday’s night debate between Republican candidate Donald Trump and Democratic candidate Kamala Harris, who brought to the table a Goldman Sachs’s report about economic policies of both candidates. She made it seem as if the bank preferred by far her economic program than Trump’s.
During the 90-minutes debate, Harris explained that “what Goldman Sachs has said is that Donald Trump’s plan would make the economy worse, mine would strengthen the economy.”
As the report showed, “if Democrats sweep (the election), new spending and expanded middle-income tax credits would more slightly than offset lower investment due to high corporate tax rates, resulting in a very slight boost to the gross domestic growth.” On the other hand, if Trump wins, as claimed in the report, his tariffs on imported goods will raise costs for consumers.
But, according to the CEO of the Wall Street giant, the Vice President made a big deal out of nothing. The report, according to Solomon, came from an independent analyst, and apparently Harris made a bigger deal than what it actually is and that the report predicted that the US’ GDP could probably take a hit in case businessman Trump wins, while we could see a very slight boost in case of Harris victory.
“What the report did is, it looked at a handful of policy issues that have been put out by both sides, and it tried to model their impact on GDP growth,” Solomon stated during an interview on CNBC with Scott Wapner. “The reason I said a bigger deal has been made of it is, what it showed is the difference between the sets of policies that they have put forward is about two-tenths of 1%.”
Not everyone can agree with Goldman Sachs…especially Trump. His campaign staff responded to Bloomberg saying that “these Wall Street elites would be wise to review the record and acknowledge the shortcomings of their past work if they’d like their new forecast to be seen as credible.”
The economy is definitely the biggest concern for voters in this coming election. And according to a recent poll done by PBS News, NPR, Marist poll, National Register Voters, Republican candidate Trump would handle the economic issues better than his opponent Harris, with a 52% against 48%.
