The US is facing a rapidly increasing public deficit, with both Trump and Harris proposing plans that do little to address the economic crisis. Trump’s tax cuts and Harris’s social spending plans are exacerbating the problem, pushing the country further into debt. Neither candidate has a solid strategy to tackle the rising debt burden and prevent a fiscal catastrophe.
Federal spending far exceeds revenues, requiring drastic measures to bridge the gap. If no changes are made, the debt-to-GDP ratio could reach alarming levels under both administrations. Despite warnings, previous periods of financial laxity did not result in a crisis, sparking skepticism about the current alarmist view of the US fiscal situation.
The looming threat of inflation under Trump’s leadership is a cause for concern, as his policies could further destabilize the economy. It is crucial for the next president to address the mounting debt and implement sustainable economic measures to avoid a potential financial meltdown.