Nikki Haley Discusses U.S. National Debt Crisis with Jamie Dimon

Haley Warns of Impending Bankruptcy of Social Security and Medicare, Proposes Entitlement Reform

Republican Presidential candidate Nikki Haley has discussed the U.S. national debt crisis with JP Morgan Chase CEO Jamie Dimon and billionaire investor Stanley Druckenmiller.
Haley warns that Social Security and Medicare systems could go bankrupt within a decade without action.
She proposes entitlement reform, including raising the retirement age and linking increases to inflation.
The U.S. national debt is about $33 trillion, equivalent to 120% of the GDP.
Wharton School Professor Kent Smetters warns that under current policies, the U.S. has a window of 20 years for corrective measures, beyond which no tax hikes or spending cuts could prevent the government from defaulting on its debt.