Joe Biden’s economic plan can create a faster-growing economy, more work, and reduce the debt according to a new analysis from the University of Pennsylvania’s Wharton School.
ON Monday, the University of Pennsylvania’s Wharton School released the analysis that can give a further boost to the Biden’s campaign as he usually leads Mr Trump in the polls but who often is behind President Trump when it comes to the economy.
The Democratic Candidate plans would also significantly increase government spending and raise taxes creating a major boost by $5.4 trillion in the next 10 years. The University also came to realise that his proposals on education, infrastructure, and health care would be able to pay for themselves mostly due to raising taxes, but also by boosting wages and lowering health care costs.
Richard Prisinzano, the director of policy analysis at the Penn Wharton Budget Model, said: “If you got the US on this path, you would lower the debt and raise GDP,” and the added: “It is productive spending that Mr Biden is proposing.”
Another voice came into picture, Scott Lincicome, a senior fellow at the libertarian Cato Institute said “What we see from the analysis is that Biden’s plan is to increase spending and increase taxes quite a bit,” and added: “That is quite useful to see.”