Recreational vehicles shine at Los Angeles Auto Show

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Recreational vehicles shine at Los Angeles Auto Show

2024-11-25 15:20 Last Updated At：16:07

Recreational vehicles (RVs) are drawing significant interest at the ongoing Los Angeles (LA) Auto Show, one of the largest car events in the United States.

Numerous automakers are unveiling new models and concept cars at the LA Auto Show, which runs from Friday to December 1. This year's event highlights a growing interest in RVs, fueled by rising air travel and accommodation costs.

"Ninety percent of these people are just blown away by what we represent here. And so, the car traveling is something that will continue to grow. Because everything is so expensive, traveling overseas, right?" said Mark Han, co-founder of OVR: Outdoor Vehicle Recreation, a magazine renowned for its content focused on vehicle-based outdoor activities.

Tim Elinski, founder of Pin Drop Travel Trailers, unveiled premium travel trailers for outdoor enthusiasts at the auto show. Powered by solar energy and complete with air conditioning and hot water amenities, these travel trailers significantly enhance outdoor accessibility.

"What our customers love most about Pindrop travel trailers is they're just extremely convenient. It's a no assembly-required camping experience. So, you pull up, you open up the hatch, you pull out the drawers, and you start cooking. Everything is already pre-plumbed, pre-wired. It's just prefabricated for your immediate pleasure in the outdoors," Elinski said.

Meanwhile, some concept cars offer a glimpse of luxurious RV travel.

"There's so much to highlight about this vehicle, but one of my favorite things, it's just like a full-size truck, but it's got a luxury apartment on the back," said Don Renyer, an outdoor enthusiast.

U.S. national debt reaches all-time high of 36 trillion U.S. dollars

2024-11-25 15:22 Last Updated At：15:37

The U.S. Treasury Department recently announced that the country's national debt has reached 36 trillion U.S. dollars, setting a new record.

This milestone comes just over three months after the debt surpassed the 35-trillion-U.S.-dollar mark in late July, highlighting the rapid pace of borrowing and government spending.

Maya MacGuineas, president of the Committee for a Responsible Federal Budget, captured the gravity of the situation in a recent speech, saying government borrowing is becoming as certain as the changing of the seasons these days.

Since June 2022, the Federal Reserve -- the central bank of the United States -- has implemented a series of rate hikes to combat high inflation. While these measures aim to stabilize the economy, the cost of servicing existing debt has been inadvertently increased. As a result, interest payments now constitute a growing share of federal expenditures, further exacerbating the debt burden.