The Ticking Time Bomb of the National Debt and the 2024 Election

The United States faces a significant economic challenge with its growing national debt, which has reached $35 trillion. Experts warn that without action, this could lead to a financial crisis. While stabilizing the debt at its current level is possible, it would require substantial measures like reducing annual deficits. However, both presidential candidates, Kamala Harris and Donald Trump, propose policies that would further increase the debt through tax cuts and government spending. Experts argue that addressing the debt necessitates politically unpopular decisions, such as reforming Social Security and Medicare, which neither candidate is willing to do. Consequently, the issue is ignored, making a future crisis more likely. This crisis, while undesirable, may be the only catalyst for action, as it would force voters and politicians to confront the problem.