January 1, Billionaire Investor Sounds Serious Alarm on Looming US Debt Crisis

Billionaire investor Leon Cooperman is raising serious concerns about a looming crisis as our nation’s lawmakers continue to ignore the skyrocketing debt crisis.

Leon Cooperman, chairman and CEO of Omega Family Office, has flagged what he calls “very serious issues” stemming from the country’s ballooning debt, which is spiraling out of control under the current leadership.

“I think we’re heading to a potential financial crisis due to the enormous buildup of debt in this country. And neither candidate is addressing that,” Cooperman highlighted during his appearance on “The Claman Countdown” recently.

He pointed out that both former President Trump and Vice President Kamala Harris are essentially competing to see who can boost spending more. “Neither one of them is focused on reducing our debt level or cutting down the deficit,” he added.

Cooperman’s views echo the concerns of many Americans as our NATIONAL DEBT now stands at a staggering $35 trillion and counting. This should alarm every taxpayer.

He attributed this reckless spending to a lack of strong leadership in Washington. “We have a system of government that has evolved. It’s supposed to be about leadership in a crisis. I had tears in my eyes watching the Reagan movie recently. We just don’t have any real leadership today,” he lamented.

Cooperman stressed the need for principled people to take charge. “That’s my view, and I could be dead wrong,” he caveated, noting that the deficit issue is not just a “timing device” but a ticking time bomb expanding by $2 trillion annually.

“Ultimately, we’re going to face a crisis where the debt doesn’t matter anymore,” Cooperman warned, emphasizing the urgency of the situation.

Despite both candidates’ lack of concrete plans to tackle the debt crisis, Cooperman praised former President Trump’s economic policies, stating they’re “far superior” to what Harris has to offer.

“I suspect that Donald Trump would be better for my pocketbook. No question about it,” Cooperman admitted.

However, Cooperman also acknowledged his reservations about Trump’s behavior. “I’m more aligned with the Republican platform, but not the candidate,” he confessed, revealing his centrist nature but leaning more towards Republican ideals.

Interestingly, Cooperman announced that he has no intention of voting for either Trump or Harris in the 2024 presidential election, a sentiment that underscores the frustration of many Americans seeking competent leadership.

It’s about time our leaders wake up and address this dire financial issue before it reaches a breaking point.

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