The Unsustainable US National Debt: A Looming Crisis Ignored by 2024 Presidential Candidates

The United States faces a significant economic challenge with its growing national debt, which has reached an unprecedented $35 trillion. Experts warn that without action, a debt crisis could lead to recession and fiscal austerity. While stabilizing the debt at its current level is possible, it would require substantial measures, such as reducing annual deficits.

Both presidential candidates, Kamala Harris and Donald Trump, propose tax cuts and spending plans that would exacerbate the debt problem. Their proposals, combined with the increasing costs of Social Security and Medicare, make it highly unlikely that the debt will be stabilized. Experts believe that addressing the issue will necessitate politically unpopular decisions, such as reforming entitlement programs, which neither candidate is willing to campaign on.

The article concludes that without a crisis forcing action, politicians are unlikely to prioritize addressing the national debt, ultimately leading to more severe consequences for taxpayers in the future.