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

The United States faces a significant economic challenge with its growing national debt, which has reached $35 trillion. Experts warn that without action, a debt crisis could lead to recession and economic hardship.

Both presidential candidates, Kamala Harris and Donald Trump, propose tax cuts and spending plans that would further increase the debt. Experts argue that stabilizing the debt requires reducing the deficit by $10 trillion over the next decade, likely through a combination of budget cuts and tax increases.

Significant changes to Social Security and Medicare, such as raising the eligibility age and reducing benefits for wealthier recipients, are necessary but politically unpopular. Neither candidate is willing to address these programs, opting instead for policies that exacerbate the debt problem.

The lack of political will to address the national debt suggests that a crisis may be the only catalyst for action, ultimately resulting in a more painful and costly solution for everyone.