The Ticking Time Bomb of the US National Debt

The United States faces a significant economic challenge with its growing national debt, which has reached $35 trillion. While debt warnings have been issued for years, the current situation is unprecedented. Experts believe stabilizing the debt at its current level, which represents 100% of GDP, is crucial. However, rising costs for Social Security and Medicare, along with increasing interest payments, make this goal challenging.

Both presidential candidates, Kamala Harris and Donald Trump, propose tax cuts and spending plans that would further increase the debt. Their promises to protect Social Security and Medicare without modifications are unrealistic given the current economic situation. Experts suggest that addressing the debt requires significant measures, such as reforming entitlement programs, which are politically unpopular.

Ultimately, the lack of political will to make difficult decisions regarding spending and entitlement programs is exacerbating the debt problem. While voters express concern about the national debt, they are unwilling to accept the necessary solutions, such as benefit cuts or tax increases. This inaction will likely lead to a crisis situation forcing drastic measures with a much higher cost.