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Debt Hits $40 Trillion and Rising | Charleston News
The national debt has hit a staggering $40 trillion—double what it was just a decade ago—and the consequences are real: soaring interest rates on everything from mortgages to car loans. Interest payments alone now exceed defense spending, signaling a dangerous shift in priorities. Critics point to frivolous projects like an elephant-shaped building or a hip-hop museum as examples of wasted funds when the debt is this massive. Experts warn that without stricter spending limits and tough reforms—especially around programs like Social Security—we’re heading toward a financial crisis that will be…
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