The Wharton School of Business on Friday responded to Vice President Kamala Harris after she claimed the school said her economic plan would help strengthen the economy.
Harris made the claim during a political forum with superstar Oprah Winfrey, citing Goldman Sachs, Moody’s, the Wharton School of Business and 16 Nobel laureates.
Harris’s Wharton appointment appears to be a direct attack on former President Donald Trump, who graduated from the school.
But Wharton clarified her views on Harris’s claim that Week of news.
“We have not detected any positive impact on the economy from his plan in any future years. Trump’s plan increases GDP for a few years, but reduces it at the end of the 10-year budget period,” a spokesperson for the Penn Wharton Budget Model (PWBM) at the University of Pennsylvania said in a statement.
The school report predicted Harris’ plan would increase the national deficit by as much as $2 trillion, citing a dynamic estimate that includes reduced economic activity.
The report also noted that Harris’s plan would lead to a decline in GDP, as well as capital investment, working hours and wages.
The study, however, is not much more sympathetic to Trump’s economic plan.
Donald Trump with his father, Fred Trump, after graduating from Wharton in 1968.
Sign for Wharton College of Pennsylvania near the school’s campus
The report estimates that Trump’s plan could increase deficits more than Harris’s, but also specifies that “households across all income groups benefit in conventional ways.”
Trump cited the Wharton School during his presidential debate with Harris.
“Look, I went to the Wharton School of Finance and many of those professors, the top professors, think my plan is brilliant, it’s a great plan. It’s a plan that’s going to highlight our value as a country,” he said.
From 1902 to 1971, the Pennsylvania State University’s business school was… acquaintance as the ‘Wharton School of Finance and Commerce’ until they changed their name in 1972 to simply the ‘Wharton School’.
Trump graduated from college in 1968.