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5 key money matters from the first debate

By Jill Cornfield · Bankrate.com
Tuesday, September 27, 2016
Posted: 12 am ET
5 key money matters from the first debate

Spencer Platt/Getty Images

Hillary Clinton and Donald Trump took the stage together for the first time in Monday's much-hyped presidential debate.

After months of trading barbs at their political rallies and in negative campaign ads, the candidates relentlessly fired accusations at each other in the first of three planned debates before the November election.

It was a potentially record-setting audience for the debate, and it was a critical night as recent national polls show the race is virtually tied.

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For more than an hour and a half, Clinton, the Democratic nominee, and Trump, the Republican nominee, duked it out over the issues. Here is a look at five topics related to your money that were addressed during the debate.

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1. Jobs

Clinton applauded the nation’s job growth over the last 6 years and said we need to “make the economy fairer.” She plans to add jobs in technology and wants to give more support to small businesses. Raising the national minimum wage and encouraging more companies to have profit-sharing plans with their employees would be 2 ways to level the playing field, she said.


 
Trump opened his remarks in the jobs section of the debate by saying, “Jobs are fleeing the country.” His plan to stop the hemorrhaging is to reduce taxes on businesses and to institute a tax on products they create outside the country.

2. The economy

Clinton’s statement on jobs and the economy included all the family-friendly initiatives she’d like to implement -- family leave, sick days, affordable childcare and debt-free college. The U.S. needs to “build an economy that works for everyone: new jobs, good jobs, rising incomes.”

Clinton used a new catch phrase “Trumped-up trickle down” economics to describe Trump’s tax plan.
 
Trump hammered home state-of-the-art plants being built in other countries and reiterated job loss. “We’re putting a lot of people out of work,” he said. “Our energy policies are a disaster."

3. Interest rates

The economy is recovering after the financial meltdown of 2008-09, Clinton said, but Trump countered the nation is in a “big, fat, ugly bubble.”

Low interest rates? The Federal Reserve is “doing political things” by holding them so low,” Trump said. The Fed (“more political than Secretary Clinton”) would raise rates as soon as President Obama left office, he said.

4. Trade agreements

Trump said the U.S. needs to renegotiate trade deals. “We have to stop these countries from stealing our companies and our jobs,” he said.

One factor is NAFTA (the North American Free Trade Agreement), which Trump blamed for the loss of jobs. The deal killed manufacturing, he said.
 
Clinton said the U.S. is 5% of the world’s population, and it’s essential for the U.S. “to trade with the other 95%.” Of course the trade deals should be smart and fair, she said.

5. The housing market

Rahm Emanuel, who was President Obama’s 1st chief of staff, had a saying: "You never let a serious crisis go to waste. And what I mean by that it's an opportunity to do things you think you could not do before."

That’s the gist of comments that Donald Trump made in an audiobook from Trump University. In 2006 — shortly before the housing bubble burst — he was asked about “gloomy predictions that the real estate market is heading for a spectacular crash.” Trump replied, “I sort of hope that happens because then people like me would go in and buy."

On Monday night, Hillary Clinton said, "In fact, Donald was 1 of the people who rooted for the housing crisis. He said, back in 2006, 'Gee, I hope it does collapse, because then I can go in and buy some and make some money.' Well, it did collapse."

Trump replied, “That’s called business, by the way."

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2 Comments
Bryant Yarbrough
September 29, 2016 at 11:28 am

After reading your article, it seems as though you tried to state facts that were stated by each candidate about our money in the first debate. It also appear that you put the "good light" on Hillary and what she would do with our money by the words you chose to use regarding statements from both, such as "family-friendly initiatives" for Hillary, while stating that Trump "hammered home". Thank you for outlining 5 key money matters, just keep both candidates in the same light. I personally would like that.

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