As the US presidential elections loom, the focus on the economy remains. Both Biden and Trump have differing views on how to manage the nation’s finances, which could potentially alter the economic landscape. Billionaire investor Leon Cooperman has issued a warning about the US economy heading towards a financial crisis. He believes that the nation’s rapidly increasing debt of $34.3 trillion is the primary factor that will eventually lead to an economic downturn. The debt is escalating at an uncontrollable rate, making it difficult for lawmakers and the Federal Reserve to rein it in.
Cooperman criticized Biden’s economic policies, blaming them for the surging debt over the past three years. He expressed doubts about Biden’s capabilities as a leader to steer the economy in a different direction in a short period of time. The billionaire cautioned that if measures are not taken to address the ballooning debt, the US economy will likely face a financial crisis.
The Federal Reserve has also come under criticism from Cooperman for being too cautious in lowering interest rates, despite the need for more aggressive action. In addition to the debt crisis, tensions in
