The Looming US Debt Crisis: How 2024 Election Promises Exacerbate the Problem

The United States faces a significant economic challenge with its growing national debt, currently at $35 trillion. While debt warnings have been issued for years, the current situation is unprecedented and has caused concern in financial markets. Experts believe stabilizing the debt at its current level would require significant deficit reduction, potentially through budget cuts or tax increases.

Both presidential candidates, however, propose plans that would exacerbate the issue. Their tax cut proposals and promises to protect Social Security and Medicare benefits without modifications would further increase the national debt.

Addressing the debt requires politically unpopular decisions, such as reforming entitlement programs like Social Security and Medicare. However, the lack of political will to tackle this issue makes a debt crisis increasingly likely. This could lead to a recession and necessitate even more drastic measures in the future.

Ultimately, the article suggests that voters` unwillingness to accept necessary but unpopular solutions to the debt problem will likely result in a more severe economic crisis down the line.