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

The upcoming presidential election presents a concerning financial outlook as both leading candidates, Kamala Harris and Donald Trump, prioritize tax cuts and spending increases to appeal to their voter base. This approach ignores the looming threat of the national debt, which has reached a critical point. While some argue that stabilizing the debt at its current level would be sufficient, achieving this would necessitate significant spending cuts or tax increases, particularly in programs like Social Security and Medicare. However, neither candidate is willing to propose such measures due to their unpopularity. Instead, both propose plans that would further increase the national debt, exacerbating the issue. Experts warn that this avoidance will ultimately lead to a crisis, forcing drastic and likely more costly solutions. Essentially, the candidates prioritize short-term political gain over addressing the long-term economic well-being of the nation.