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

The United States faces a significant economic challenge due to its massive national debt, which has reached $35 trillion. While debt warnings have been issued for years, the current situation is unprecedented and has raised concerns in financial markets. Experts believe stabilizing the debt at its current level requires substantial measures, such as reducing annual deficits.

Both Republican and Democrat presidential candidates propose tax cuts and spending plans that would exacerbate the debt issue. While acknowledging the need to protect Social Security and Medicare, neither candidate is willing to address the programs` unsustainable trajectories, which contribute significantly to the growing debt.

Experts suggest that tackling the debt necessitates politically unpopular decisions, such as reforming entitlement programs. However, the lack of political will to address these issues makes a debt crisis increasingly likely. This crisis, while avoidable, would necessitate drastic measures with severe economic consequences. The author concludes that, unfortunately, voters often prioritize short-term benefits over long-term economic stability, ultimately leading to a costlier outcome for all.