Economic fears and ‘Medicare for All': Here are the business issues to watch in the third Democratic debate – CNBC
With U.S. growth slowing by some measures, fears have begun to spread among investors and market-watchers that an economic correction, or even a recession, could be on the horizon.
Those concerns may be creeping toward voters, whose usually positive view of the economy under Trump has faded slightly in recent weeks, according to recent polling data.
Democrats may be salivating at the chance to hit Trump on the political issue that is often considered his strongest. Some already have — even though much economic data still show that the economy is healthy.
Biden, for instance, recently slammed Trump’s “erratic” handling of “an economy that’s teetering on a recession,” Fox News reported.
On the debate stage, the candidates might first have to fend off questions about their own economic plans.
The candidates should be prepared to answer questions about how they would solve a potential economic downturn, said William Galston, a senior fellow at the Brookings Institution.
“If you were president, faced with a slowing economy,” Galston asked as an example, “what would you do?”
That line of questioning could be extended to the U.S. debt — now over $22.5 trillion — since Democrats have routinely touted the bottom-line cost of their legislative plans in an effort to emphasize their sweeping ambitions.
Yang, meanwhile, has pushed a Universal Basic Income plan that would give $1,000 a month to every American citizen. The Nonprofit Tax Foundation has expressed skepticism that that proposal adds up, as Yang promises.
The rest of the field has put forward a wide array of economic ideas, many of which involve raising taxes on the nation’s top earners, boosting low-income Americans, regulating big banks and supporting green energy.
“There’s a debate within the Democratic Party about the place of the private sector vis-a-vis government. That’s perhaps the dominant economic question” within the party, Galston said.