Yesterday’s presidential debate between Kamala Harris and Donald Trump was a disaster. They failed to address most of the major issues facing the country, and when they did, they did so superficially.
The fact that neither candidate has anything of substance to say on economic policy is remarkable, especially when Trump makes outlandish statements like “immigrants eat cats and dogs.”
Even more disappointing, the crypto community has been completely ignored. Kamala looks better in the public eye, while Trump seems confused by her statements.
Betting sites adjusted their odds in her favor immediately after the debate. But honestly, neither candidate looked ready to take the lead.
Immigration policy? Which immigration policy?
Let's start with immigration. This is a big issue right now, with the Congressional Budget Office estimating that 3.3 million immigrants will enter the United States in 2024 alone.
The increase is expected to add $8.9 trillion to the economy and generate $1.2 trillion in federal tax revenue between 2024 and 2034. That could help reduce the federal deficit by $900 billion over the same period.
Additionally, immigrants created about 100,000 new jobs per month in 2023, and the same trend is expected to continue in 2024.
There is a housing crisis, social services are overwhelmed and we have no guidance on how the candidates will handle the situation.
This is a huge missed opportunity to discuss the future of immigration and its impact on the economy.
Climate change is ignored again
Oh, climate change? Well, that’s another issue that’s been completely avoided. Since 2020, the United States has seen a 30% increase in climate-related disasters, costing more than $300 billion a year.
IPCC reports repeatedly warn of the damage we are doing to the planet, but neither Kamala nor Trump have put forward any meaningful plans to combat climate change.
Renewable energy? Carbon emissions? Environmental justice? None of it. The silence is ridiculous. Ignoring these issues only makes things worse for everyone, but you wouldn't know it from watching the debate.
Then there’s health care. Nearly 30 million Americans remain uninsured, and out-of-pocket costs are skyrocketing. Prescription drug prices have increased 25% since 2020.
Do they mention any of these? Not really. They mention health care but don’t get into the important specifics, like expanding insurance coverage or lowering drug costs. Remember, polls show that 70% of Americans want health care reform.
Economic inequality is another big issue they don't address adequately. The richest 10% of Americans control nearly 70% of the nation's wealth, while the poorest 50% hold less than 2%.
Labor strikes are taking place across the country, with more than 300 major strikes reported in 2024 alone.
Will Kamala or Trump take a firm stand on workers’ rights, union support or raising the minimum wage? No. Another big issue remains open.
Shallow Foreign Policy – The Ignored Sovereign Debt Crisis
Foreign policy isn’t much better. Sure, they’ve talked about Israel and Iran, but what about China? Trade tensions with China have escalated, and if left unresolved, could cost the US economy $600 billion a year.
They also ignore global health concerns. COVID-19 is still having a lingering impact, with more than 1 billion people worldwide still unvaccinated.
The US national debt is now over $35 trillion. That's about $105,000 for every person in the country.
Interest alone was about $659 billion in 2023 and is expected to rise to $870 billion this year, accounting for about 14% of federal spending.
The Congressional Budget Office projects that federal debt will increase from 99% of GDP in 2024 to 116% in 2034 and could reach 172% of GDP in 2054.
Yet despite this massive debt, the debate has overlooked one of the most pressing financial problems facing the country.
Changes in polls after debate
After the debate, the polls shifted in Kamala's favor. A CNN poll found that 63% of viewers believed Kamala was better than Trump, with only 37% siding with Trump. Before the debate, the race was closer.
A New York Times/Siena College poll found Trump leading Kamala by a narrow margin of 48% to 47% among likely voters. But post-debate opinion seemed to favor Kamala.
Interestingly, 28% of respondents said they need to learn more about Kamala, while only 9% said the same about Trump. That means she has more to gain or lose in this debate.
While some voters tended to lean toward Kamala afterward, the overall situation did not change much for Trump supporters.
To make things better, Taylor Swift officially endorsed Kamala shortly after the debate. Swift took to Instagram, calling Kamala a “strong leader” and encouraging her fans to vote for Kamala in the upcoming election.
Swift's support comes after an AI-generated image falsely showed her supporting Trump, which apparently scared her. Her fans, known as "Swifties," began a campaign, raising more than $122,000 in support of Kamala.