The Unspoken Issue of Runaway US Debt: Harris and Trump in the 2024 US Election

The national debt in the United States, once a major focus of presidential elections, has seemingly fallen off the radar in 2024. Both Donald Trump and Kamala Harris did not mention the debt during their debate, and the Republican Party did not include it in their platform. Despite the debt reaching $28 trillion, projected to rise to $51 trillion in the next decade, both candidates have not proposed serious solutions to address this issue. Instead, they have introduced costly plans that would increase the deficit significantly. Economists warn that there is a limit to how much debt the US economy can sustain before facing serious repercussions. If corrective action is not taken within the next 20 years, there is a risk of a default that could have global economic consequences. The Congressional Budget Office predicts that by the mid-2030s, all federal revenues will be needed for social security and debt interest payments, limiting the government’s ability to invest in growth or respond to emergencies. Painful solutions, such as spending cuts and tax increases, will be necessary to address the debt issue. However, politicians and voters seem reluctant to discuss or address this challenging problem, leading to a potentially dire economic future if action is delayed further.

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