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US Debt Hits $40 Trillion | US News
The U.S. national debt has surged past $40 trillion, triggering higher interest rates that directly impact mortgages, car loans, and credit cards — making borrowing costlier for everyday Americans. Driven by decades of spending, especially during crises like 2008 and COVID-19, this ballooning debt threatens to eat up more of the federal budget in interest payments, squeezing future fiscal flexibility. While savers may benefit from higher yields on new bonds, older investments lose value, and businesses face steeper borrowing costs — potentially slowing growth and affecting jobs. This isn’t an…
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