Trump vs. Harris: A Playful Economic Face-Off!

Trump or Harris: The Economic Showdown of the Century!

Picture this: the public debt dancing around at 108% of GDP, like an awkward party guest who just won’t take a hint. You’d think one of our charming candidates might make cutting that debt their VIP priority, right? But hold your horses! With Joe Biden acting like a ‘lame duck’ with rusty feathers, he might either backpedal his presidential ambitions or double down on trying to pump up the economy to leave a dazzling legacy for the lovely Kamala Harris to inherit.

So, what’s on the menu for a Harris administration? Could she whip up a tougher anti-monopoly agenda than Biden, or will she just stick with lukewarm leftovers? It’s a mystery, because let’s face it, the Federal Trade Commission and Justice Department are currently tiptoeing around court rulings like they owe the judges money. Plus, Harris has been cozying up to businesses, hinting she’d prefer her rule book not to squeak too much from the left. Investors will probably be itching to know her thoughts on capitalism, because after all, who doesn’t love a little healthy capitalism controversy?

Now, flip the coin, and what does a Trump encore look like? Could he slam on all those promised tariffs like a DJ at a dance party? There’s a lot of uncertainty there, folks! While Trump may dream of raising tariffs like it’s a high school graduation, he might just encounter a judicial wall that says “Not today, buddy.” The guy’s got charm, but does he have the legal room in his shiny presidential toolbox?

Now let’s talk spending, because wouldn’t it be a party without some debt discussion? The U.S. debt carnival has soared from a chill 42% in 2008 to today’s rockstar 108%. It’s like a never-ending student loan statement! If Trump extends those tax cuts from his 2017 shopping spree, experts are predicting a jaw-dropping $4 trillion added to the debt over the next decade. Meanwhile, Harris could play the expiration card, letting tax cuts fizzle out like a balloon at a sad birthday party while raising corporate taxes faster than you can say “stimulus check.”

On another note, Trump’s sporting those big dreams of a 10% tariff on all goods while Harris has swerved from the free trade squad in her senator days, giving side-eye to the Trans-Pacific Partnership and the USMCA. Both candidates will have to face a Congress that’s looking like a game of musical chairs—and whether they’ll actually find a seat at the table depends on who can snag a deal through the polarized drama.

Analysts say that only one of five economic signs is giving Harris a thumbs up. It looks like the Senate might lean toward the Republicans, making a Republican victory a strong possibility, leaving the Democratic hopes hanging by a thread. Stocks across the ocean have been showing a wild connection to Trump’s odds—up, down, and sideways!

Should Harris take the crown, industries tied to electric vehicles and green tech could kick their heels up, while a Trump victory might mean more oil extraction. But growth may go boom or bust based on good old-fashioned economic data rather than the whims of pollsters swaying in the wind.

So, hang tight, folks! The market is about to butt heads with data and can only hope for the best, like a kid hoping for a pony on their birthday. No matter who wins, there’s sure to be a wild rollercoaster ride ahead!

Hang on but do wear your helmet—this political economy ride is about to take off!

Linda Duessel, your go-to financial strategist from Federated Hermes, signing off with a wink!