The Ticking Time Bomb of the National Debt: How 2024 Election Promises Could Trigger a Crisis

The United States faces a significant economic challenge due to its massive national debt, which currently stands at $35 trillion. Experts warn that without intervention, this debt could lead to a financial crisis.

Both presidential candidates, Kamala Harris and Donald Trump, propose tax cuts and spending plans that would further increase the debt. While they promise to protect Social Security and Medicare, experts argue that stabilizing the debt necessitates reforming these programs, a politically unpopular move.

Addressing the debt requires substantial measures, such as reducing spending or raising taxes, totaling trillions of dollars over the next decade. However, neither candidate is willing to campaign on such potentially unpopular actions.

Ultimately, the lack of political will to address the national debt crisis may result in a more severe economic crisis in the future, forcing action and potentially leading to more drastic measures.