FX168 Financial News Agency (Asia Pacific) reported that on Thursday (August 15th), the Financial Times reported that Donald Trump promised to bring a "brand new Trump economic prosperity" if he wins the 2024 presidential election; But if he loses, it will be a "1929-style economic depression."
In a one-hour economic speech on Wednesday in Asheville, North Carolina, Republican presidential candidate Donald Trump promised to lower the prices of automobiles, housing, insurance, and prescription drugs, and criticized the Biden administration for rising consumer prices during its tenure.
The Republican presidential candidate asked, "Does anyone here think that Kamala Harris and Crooked Joe are richer than you were during the Trump administration?"
"If Harris wins this election, the result will be Kamala's economic collapse, a 1929-style Great Depression... Once I win the election, we will immediately start a brand new Trump economic prosperity," he added.
Trump promised to continue the 2017 tax cut policy and vowed that the United States will "pay off our debt."
The Committee for a Responsible Federal Budget said that Trump's proposal to extend the 2017 tax cut and employment law will increase the deficit by $5 trillion by 2035.
Behind Trump is a sign that says "no tax on social security" and "no tax on tips."
The Committee for a Responsible Federal Budget pointed out that cuts in Social Security welfare taxes will add another $1.6 trillion to the deficit, and cuts in tips taxes will add another $250 billion to the deficit.
Trump vowed, "Our current huge deficit will be reduced to almost zero. Our country will be driven by growth."
The Financial Times reported that Democratic presidential candidate Kamala Harris has won support from voters for her handling of economic issues.
According to the latest poll by the Financial Times and the Ross School of Business at the University of Michigan, 42% of voters trust her on economic issues, compared with 41% of voters who prefer Trump.
For Harris, another bullish news is that data released on Wednesday showed that the US inflation rate in July fell to 2.9%, providing a reason for the Federal Reserve to cut interest rates at its next meeting in September.
Harris plans to deliver an economic speech in North Carolina on Friday and outline her policies before next week's Democratic National Convention.
Harris recently accepted Trump's proposal to lower tip taxes, prompting Trump to say that Harris's economic vision "might be a copy of my plan."
Trump added, "She's waiting for me to announce so she can copy it."