The United States has added a staggering $215.65 billion to its national debt in just one month, pushing the total debt to a whopping $34.75 trillion. This alarming increase has sparked concerns among experts, with a former White House official warning that the country is on the brink of a fiscal crisis.

The interest payments on the debt have already surpassed the amount spent on defense, Medicare, and Medicaid, and are higher than the combined spending on veterans, education, and transportation. This situation has prompted Vance Ginn, former associate director for economic policy at the White House's Office of Management and Budget, to sound the alarm. In an op-ed, Ginn cautions that the debt burden will fall on future generations and urges policymakers to take immediate action to address the crisis.

Ginn warns that the government's reliance on borrowing to finance its spending will lead to higher interest rates, inflation, and a misallocation of resources, ultimately stifling economic growth. He also predicts that millions of Americans will be forced off their benefits as social security and Medicare programs go bankrupt in the next decade. The crisis, Ginn argues, presents an opportunity for reform, particularly in entitlement programs, to prevent a severe budgetary crisis.

The situation is dire, with the US facing a complex budgetary environment and a looming budget crisis. Experts agree that thoughtful reform is necessary to address the challenges posed by the national debt. The consequences of inaction will be severe, with millions of Americans facing substantial cuts in benefits and a struggling economy.

In conclusion, the US national debt has reached a critical point, and immediate action is necessary to prevent a fiscal crisis. Experts warn that the consequences of inaction will be severe and far-reaching, affecting not only the economy but also the well-being of millions of Americans. It is imperative that policymakers take a proactive approach to address the debt burden and ensure a sustainable financial future for the country.