The United States' national debt is ballooning rapidly, surging by $273.9 billion in just 60 days, according to recent Treasury Department data. From February 21st to April 24th, the debt climbed from $34.297 trillion to $34.571 trillion, setting a new record high. This surge comes as billionaire investor Leon Cooperman sounds the alarm, cautioning that the nation is edging towards a financial crisis.

Cooperman highlights a missed opportunity to achieve financial stability, referencing the Simpson-Bowles report released in December 2010. The report aimed to steer the country away from a potential financial disaster by recommending cuts in government spending and increased revenue to reduce the national debt. However, Cooperman observes a lack of action on these recommendations, with the problem now three times larger than when the report was issued.

Speaking on CNBC, Cooperman expresses concern over the country's leadership, describing it as a "leadership in crisis." He recalls past endorsements of the Simpson-Bowles report by figures like Mitt Romney and Senator Joe Manchin, emphasizing the urgency of addressing the growing debt. While some argue that deficits don't matter, Cooperman remains cautious, believing that they will have significant consequences in the future, possibly leading to a financial crisis.

In March, the Congressional Budget Office reported a federal deficit of $1.7 trillion for the 2023 fiscal year, up from $1.4 trillion in 2022. This ongoing trend of increasing deficits adds to the worries about the nation's financial health, prompting calls for action to address the growing debt before it spirals out of control.