Trump warns of 1929-style depression if Harris wins 2024 election

Former US President and Republican nominee Donald Trump

Republican candidate Donald Trump ramped up criticism of Democrat rival Kamala Harris, asserting that her election victory would lead to an economic depression akin to 1929.

“If Kamala wins, you’re three days away from an economic depression like 1929. If I win, you’re three days from the best job market, highest wages, and the brightest economic future," Trump wrote on X on Nov. 3.

The Great Depression, from 1929-1939, caused a sharp downturn in US output, along with widespread unemployment, and a severe deflationary cycle in multiple countries. It remains the longest and most severe economic downturn for industrialized nations.

Trump pledged to cut taxes significantly for workers and small businesses, with no taxes on tips, overtime, or Social Security benefits. In contrast, he claimed Harris aims for the largest tax hike in US history.

In a separate post, Trump said he would restore US borders, accusing Harris of "the worst betrayal by any leader in US history," dismantling borders and allowing gangs, migrants, and criminals from places like Venezuela and Congo, which he claimed cost countless American lives.

The comments come as the race tightens ahead of Tuesday's vote, with polls showing a close contest.