Goldman Sachs CEO David Solomon suggested Vice President Kamala Harris overemphasized the positive effect her plan for the economy would have on gross domestic product.
Solomon’s economists predicted earlier this month that the United States’s GDP could take a hit in a hypothetical victory by former President Donald Trump in 2024, whereas a Harris 2024 victory could lead to a “very slight boost” to the GDP. The vice president referenced the report during Tuesday night’s debate, with Solomon now stating that it was conducted by “an independent analyst” and has created a bigger discussion “than should be.”
“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 said on CNBC. “The reason I say a bigger deal’s been made of it is what it showed is the difference between the sets of policies that they put forward was about two-tenths of 1%.”
Solomon added that there is no guarantee that the policies Harris and Trump proposed, which his economists used in their report, would actually be implemented.
Another “interesting” factor Solomon found about the debate was how he could not recall any time when the U.S. national debt was discussed. He argued that the debt is a policy issue “that’s going to have to be wrestled with.”
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Both Harris and Trump were asked early on in Tuesday’s debate what their plans were for the economy, which is set to be a top concern for voters when they cast their ballots. Harris discussed plans for a $6,000 tax cut for families, while Trump promoted how he created “the greatest economies in the history of our country,” promising to do so again in a second presidential term.
Prior to the debate, the former president gained ground in major battleground states, tying with the vice president in Arizona, North Carolina, Nevada, and Georgia. Harris was slightly ahead in Pennsylvania, Michigan, and Wisconsin, according to data from a New York Times/Sienna poll.