Steve Forbes, a prominent American executive and publisher, has criticized Kamala Harris's policies, claiming they would adversely affect the middle class.
According to Forbes, Harris’s approach, including significant increases in government spending, could lead to financial strain on the middle class. He highlighted that initiatives such as Medicare for All and the Green New Deal could potentially add up to around $10 trillion in costs annually.
In a recent interview with Fox Business, Forbes expressed concerns about Harris’s policy proposals, including her plans to ban fracking, which he argues could lead to higher energy prices and economic downturns.
Forbes also warned that Harris’s proposed tax hikes and expanded government spending could exacerbate issues within the healthcare system, leading to longer wait times and reduced access to care.
Despite these criticisms, Kamala Harris remains steadfast in her commitment to strengthening the middle class. She has emphasized that her policies are designed to bolster this demographic, asserting that a strong middle class is essential for a robust America.
Additionally, some commentators have pointed to President Biden’s policies as detrimental to the middle class, while crypto advocates argue that pro-crypto policies could enhance financial inclusion, offering a counterpoint to the administration’s stance on digital currencies.
JPMorgan Chase CEO Jamie Dimon recently raised concerns about the U.S. economy, citing the potential impact of inflation and increasing deficits.
Goldman Sachs strategists, led by Christian Müller-Glissmann, are forecasting greater resilience in the U.S. stock market than many investors expect, suggesting a low probability of a severe recession.
Recent indicators suggest that the U.S. may avoid a recession in 2024, reversing earlier concerns.
US inflation fell to 2.5% in August, setting the stage for the Federal Reserve to consider cutting interest rates at its meeting next week.