First Presidential Debate Highlights: Trump & Harris

The recent presidential debate has captured the nation's attention, offering a glimpse into the key issues shaping the upcoming election. As you tuned in to watch the heated exchange between Kamala Harris and Donald Trump, you witnessed a fierce discussion on pressing matters that have an impact on everyday Americans. From the state of the economy to immigration policies, the debate covered a wide range of topics that are sure to influence voters' decisions.

In this article, you'll find a breakdown of the main points discussed during the debate, including the candidates' stances on inflation and economic policy. We'll also delve into their views on border security and abortion rights, which sparked intense disagreement. Interestingly, despite the growing importance of digital currencies, there was no mention of Bitcoin or other cryptocurrencies during the debate. 

‍

Key Economic Issues Discussed

Inflation Debate

As you watched the debate, you saw Harris and Trump clash over inflation, a top concern for many voters. Harris highlighted the current administration's efforts to combat rising prices, pointing out that the annual inflation rate has dropped to 2.9%, the lowest in three years. However, Trump countered by emphasizing the 19.4% cumulative increase in prices since Biden and Harris took office.

Harris accused Trump of potentially reigniting inflation, citing concerns from Nobel laureates. She also criticized Trump's proposed universal tariffs, calling them a "Trump sales tax" that could increase household costs by USD 1,700 to USD 4,000 annually.

Unemployment Claims

Both candidates touted their economic records regarding employment. Harris emphasized the creation of 15.9 million jobs under the Biden-Harris administration. Trump, on the other hand, highlighted the pre-pandemic job growth during his tenure, with 6.7 million jobs added from January 2017 to February 2020.

It's worth noting that the unemployment rate peaked at 14.8% in April 2020 under Trump due to the pandemic, but had decreased to 6.4% by the time he left office.

Economic Policies

Harris outlined several proposals to help low- and middle-income consumers, including a USD 6,000 child tax credit for infants, a USD 50,000 tax cut for small businesses, and USD 25,000 to assist first-time homebuyers with deposits. She also mentioned strengthening the Affordable Care Act and allowing Medicare to negotiate drug prices.

Trump, meanwhile, advocated for extending his 2017 Tax Cut and Jobs Act for all income levels and corporations. However, analysts suggest this could add USD 5.20 trillion to deficits over the next decade. Trump also proposed using tariffs to discourage China from manufacturing cars in Mexico, claiming it would protect American auto workers.

‍

Immigration and Border Security

Trump's accusations

During the debate, you witnessed Trump's strong stance on immigration, as he painted a grim picture of its impact on American towns. He specifically mentioned Springfield, Ohio, and Aurora, Colorado, claiming immigrants were causing violence and disorder. He accused the Biden-Harris administration of allowing dangerous criminals into the country, stating, "They're destroying our country."

Harris's border strategy

In response, Harris defended the administration's efforts, highlighting recent policy measures to reduce border crossings. She pointed out that immigration numbers had significantly decreased after President Biden implemented stricter measures in July 2024. 

Harris also emphasized her support for a bipartisan border security bill earlier this year, which she argued would have strengthened national security. She accused Trump of obstructing this bill, saying, "Donald Trump called up some folks in Congress and said, 'Kill the bill.'"

Abortion Rights and Healthcare

As you watched the debate, you saw abortion rights and healthcare emerge as contentious issues. The candidates presented starkly different views on these topics, reflecting the deep divide in American politics.

Trump's statements on late-term abortions

Trump reiterated his claim about Democrats supporting late-term abortions, stating they would "take the life of a child in the eighth month, the ninth month and even after birth." 

However, it's important to note that such claims are not supported by medical evidence. Less than 1% of abortions occur after 21 weeks, and these are typically due to severe fetal abnormalities or risks to the mother's health.

Harris's stance on reproductive rights

Harris has made abortion rights a central part of her campaign. She pledged to sign legislation restoring federal protections for reproductive rights if elected. Harris emphasized the importance of women's freedom to make decisions about their own bodies without government interference. 

She also highlighted how abortion bans in various states have affected healthcare, citing cases where women suffering from miscarriages were denied crucial care in emergency rooms.

Healthcare policy differences

The candidates also clashed on healthcare policies. Harris touted the Biden-Harris administration's efforts to reduce prescription drug costs and cap insulin prices at USD 35.00. 

Trump, on the other hand, stated he would not renew attempts to dismantle the Affordable Care Act, which extended insurance to millions more people. He proposed taxpayer-funded fertility treatment, though this could face opposition from Republicans in Congress.

Absence of Cryptocurrency Discussion

Despite the growing importance of digital currencies in the global economy, you might have noticed that cryptocurrency was conspicuously absent from the presidential debate between Donald Trump and Kamala Harris. This omission has raised eyebrows in the crypto community and has implications for the future of digital assets in the United States.

Crypto community expectations

The crypto community has been keenly anticipating the presidential election, with many members showing high interest in the potential outcomes. Polymarket odds have been favoring a Trump win for over two weeks, reflecting the community's expectations. This anticipation stems from concerns about an alleged anti-crypto Harris government, contrasting with Trump's perceived crypto-friendly stance.

Implications for the crypto market

The absence of crypto discussion in the debate hasn't dampened market reactions. Analysts predict that the election's outcome could have a significant impact on Bitcoin's price. According to a CNBC report, a Trump victory might push Bitcoin to new highs of USD 80,000-90,000, while a Harris win could see it plummet to USD 40,000-30,000. These predictions underscore the market's sensitivity to political developments.

Candidates' previous crypto statements

Trump and RFK Join Forces

In a surprising political alliance, Donald Trump and Robert F. Kennedy Jr. (RFK) recently joined forces to challenge the Democratic establishment. Despite their differing political backgrounds, both have found common ground in their opposition to the Biden-Harris administration’s policies, particularly on economic freedom and government overreach. What sets this alliance apart is their shared pro-crypto stance, which has gained significant traction among digital currency advocates.

Both Trump and RFK have increasingly embraced Bitcoin and other cryptocurrencies, positioning them as vital tools for preserving individual financial autonomy and limiting the influence of centralized financial institutions. 

RFK, once hesitant about Bitcoin, now champions its potential to decentralize power and promote freedom. He has argued that digital currencies could empower individuals by providing alternatives to traditional banking systems that are often subject to government manipulation.

Trump, who initially expressed skepticism about cryptocurrencies, has recently adjusted his stance. Recognizing their growing importance in the global economy, he has signaled that he views Bitcoin as a hedge against inflation and a safeguard against what he describes as government mismanagement. 

Trump has hinted at policies aimed at fostering a more favorable regulatory environment for digital assets, particularly by calling for the Securities and Exchange Commission (SEC) to reduce its regulatory oversight of the crypto market. He argues that excessive regulation stifles innovation and pushes U.S. companies to relocate to more crypto-friendly jurisdictions, weakening America’s position in the emerging digital economy.

In addition to his regulatory stance, Trump has hinted at policies favorable to Bitcoin miners and blockchain companies, seeking to position the U.S. as a global leader in crypto innovation. He has suggested that tax incentives or regulatory leniency could help bring more Bitcoin mining operations to the U.S., providing an economic boost and helping secure the country’s place in the rapidly expanding cryptocurrency landscape.

Perhaps one of Trump’s most notable moves is his recent vow at Bitcoin 2024 in Nashville that the U.S. would not sell any Bitcoin currently in its possession or any that it may acquire in the future. This statement was seen as a significant gesture toward solidifying Bitcoin's role in the nation's financial strategy. By refusing to sell off national Bitcoin holdings, Trump signaled a long-term commitment to integrating Bitcoin into the American financial system. 

‍

Kamala Harris: A Vague and Unconvincing Stance on Cryptocurrency

While Trump and RFK have taken a clear stand on cryptocurrency, Kamala Harris has remained largely silent on the issue. Despite the increasing importance of digital assets in both the economy and political discourse, Harris has not outlined a coherent policy or stance on Bitcoin or cryptocurrencies in general. 

There were early rumors that she might push to “reset” relations with the crypto industry, especially given the increasing scrutiny of digital assets by regulators. However, like many of her initiatives, this idea remains largely speculative, with no concrete actions or proposals emerging from her office.

Harris has often been criticized for making broad promises without meaningful follow-through, and her stance on cryptocurrency is no exception. With a growing number of Americans becoming invested in the digital economy, her lack of clarity on such a critical issue raises concerns about her preparedness to address the future of financial innovation. 

‍

Conclusion

The presidential debate underscored the sharp political divisions between the candidates on issues like inflation, immigration, and healthcare, but a notable absence was any mention of cryptocurrency, a topic of increasing importance in the financial world. 

Both Donald Trump and RFK have made strong pro-crypto positions a key part of their platform, advocating for greater support and regulatory clarity for digital assets. Kamala Harris, on the other hand, has remained silent on cryptocurrency, a gap in her platform that becomes more significant as digital currencies gain traction globally.

As for the debate itself, there wasn't a clear winner. Democrat supporters viewed Harris' performance as a win, while Republicans saw Trump’s strong showing as a victory for their side. Both candidates accused each other of dishonesty and incompetence, yet a key difference stood out—Harris, as Vice President, is currently in office and can be judged on her actions while in power. 

Her proposals on economic policies carry the weight of someone who is already in a position to make a change, even if it is from the Vice Presidency, not the Oval Office.

‍