For the second consecutive week, Democrat presidential nominee Kamala Harris was called out for exaggerating or misstating claims of third-party support for her economic proposal.
The Wharton School of Business at the University of Pennsylvania told Newsweek on Friday that its analysis of Harris' economic plan "did not find a positive impact on the economy from her plan in any future year," contradicting Harris' claim from the night before.
During a "Unite for America" livestream event held in Michigan on Thursday, Harris claimed "that is why Goldman Sachs … is why Moody's, which is why Wharton School of Business, which is why 16 Nobel laureates, have collectively determined after analyzing our plans … mine would strengthen the economy, his would weaken it," referring to Republican nominee Donald Trump.
Wharton refuted the claim.
"We did not find a positive impact on the economy from her plan in any future year. The Trump plan does increase GDP for a few years but lowers by the end of the 10-year budget window," a spokesperson for the Penn Wharton Budget Model (PWBM) told Newsweek.
Further, Harris on Thursday repeated her exaggeration from last week's debate with Trump that Goldman Sachs supported her economic plan despite the CEO of the investment bank pushing back on that claim the next day.
"So, that report, which was mentioned last night in the debate, came from an independent analyst, and it's interesting … I think a lot more has been made of this than should be," CEO David Solomon said, adding the difference between the two plans "is about two-tenths of 1%."
Regarding the Wharton exaggeration, Harris cited a PWBM analysis that said it "estimates that the Harris Campaign tax and spending proposals would increase primary deficits by $1.2 trillion over the next 10 years," and that "GDP falls by 1.3% by 2034 and by 4% within 30 years (year 2054)."
Meanwhile, PWBM said "GDP increases during part of the first decade (2025-2034)," under Trump's plan before falling by "0.4% in 2034."
Trump graduated from Wharton in May 1968.
PWBM says it "is a nonpartisan, research-based initiative that provides accurate, accessible and transparent economic analysis of public policy's fiscal impact."
Mark Swanson ✉
Mark Swanson, a Newsmax writer and editor, has nearly three decades of experience covering news, culture and politics.
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