The Ticking Time Bomb of US National Debt: How 2024 Election Promises Ignore a Looming Crisis

The United States faces a significant economic challenge with its growing national debt, which has reached $35 trillion. While debt warnings have been issued for years, the current situation is unprecedented. Experts believe stabilizing the debt at its current level is crucial to avoid a potential crisis. This would require reducing annual deficits significantly. However, entitlement programs like Social Security and Medicare are facing shortfalls, and rising interest rates exacerbate the problem. Both presidential candidates, Kamala Harris and Donald Trump, propose tax cuts and spending plans that would further increase the debt. Addressing the debt requires substantial measures, such as reforming entitlement programs, which are politically unpopular. Without significant action, a crisis may be necessary to force action, ultimately leading to a more costly solution for everyone.