Moody's Analytics likes Hillary Clinton's economic plan much more than it did Donald Trump's.
A little more than a month after Moody's said Trump's proposals would cause a "lengthy recession," the firm took a look under the hood at the Democratic nominee's plans and said the prospects were more encouraging.
"Secretary Clinton's economic proposals will result in a somewhat stronger U.S. economy," Mark Zandi, Moody's chief economist, and two others wrote in the report. "Near-term growth is supported by the stimulus provided by her spending plans in combination with much stronger foreign immigration."
Indeed, Clinton's proposals call for $2.2 trillion in new spending over a 10-year period, with plans that would allow in about a million more immigrants a year. She's looking to boost spending on infrastructure and education, as well as providing paid family and medical leave, increasing the minimum wage, and investing in economic development and research.
To pay for her proposals, she's calling for a near-equal amount of taxation, with the burden placed primarily on the shoulders of corporations and those making more than $300,000 a year. Clinton's plans rely primarily on Keynesian demand-side solutions, while Trumps' are more focused on supply-side tax cuts.
"Evident from her proposals is the belief that the country needs to invest more in education, infrastructure and workers, and that the well-to-do, and to a lesser degree financial institutions and businesses, should pay for it," Moody's wrote. "While her budget arithmetic does not completely add up, it is pretty close, and the nation's debt load under her plan is no different than under current law."