The United States has reached a significant milestone as its gross national debt exceeded $35 trillion, marking a steady increase from $34 trillion just seven months ago. This alarming trend has raised concerns among financial experts and policymakers about the nation's fiscal health.
Despite the magnitude of this debt burden, the issue has not been a focal point in the ongoing 2024 presidential campaign. The lack of attention to the growing debt levels is particularly concerning given the impending expiration of approximately $4 trillion in tax cuts next year, which will pose a significant challenge for the incoming administration.
