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

The United States faces a significant economic challenge due to its massive national debt, which currently stands at $35 trillion. Experts warn that if the debt is not addressed, it could lead to a financial crisis and economic hardship.

Both presidential candidates, Donald Trump and Kamala Harris, propose tax cuts and spending plans that would further increase the national debt. While they claim to support Social Security and Medicare, their proposals lack concrete solutions for addressing the programs` long-term financial shortfalls.

Addressing the debt requires substantial measures, such as reforming Social Security and Medicare, including potentially raising the eligibility age and reducing benefits for wealthier recipients. However, these actions are politically unpopular, making it unlikely that either candidate will prioritize them.

Ultimately, the lack of political will to tackle the national debt problem could result in a crisis that forces action, leading to more severe consequences than if addressed proactively.