The national debt

The U.S. national debt has reached an unprecedented $35 trillion, raising concerns about fiscal sustainability and future economic flexibility. According to the Congressional Budget Office, interest payments are set to surpass discretionary defense spending for the first time, signaling a drastic shift in budget allocation. Polls indicate Vice President Kamala Harris holds a six-point lead over Donald Trump in the 2024 presidential race, but both candidates' proposed policies could exacerbate the debt issue. Analysts warn that without significant reforms, the U.S. could face a debt crisis leading to recession and austerity measures. Experts emphasize the need for stabilizing debt levels rather than eliminating it entirely, suggesting a focus on reducing annual deficits. The discourse around public debt remains contentious, with contrasting views on its implications for economic growth and public investment.