US Faces Record Debt Crisis Amid Economic Struggles

Pakistan is facing an economic crisis with public spending soaring to Rs13,682 billion, a 36.6% increase from the previous year, leading to a debt exceeding Rs87,000 billion. This situation stems from years of fiscal mismanagement, pushing the government to pursue economic reforms, including the privatization of 25 public sector entities. In the U.S., the stock market remains relatively stable post-election, yet companies like Tesla have surged, reflecting investor optimism tied to potential deregulations under the new administration, despite underlying economic inequities. The U.S. faces a staggering debt crisis, with consumer debt over $16 trillion and households averaging over $90,000 in debt, impacting economic stability and individual financial health. The national debt has reached a record $35.96 trillion, exacerbating financial struggles for many Americans. Both nations illustrate the precarious nature of their financial systems, where mismanagement and reliance on debt threaten long-term economic viability.