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U.S. Debt Hits $40 Trillion | Salt Lake City News
The U.S. national debt has hit a staggering $40 trillion—roughly $116,000 per person—and now exceeds its GDP ratio since WWII. With spending outpacing revenue, the government keeps borrowing, but that path can’t go on forever. Tough choices loom: cut popular programs like Social Security or Medicare, raise taxes, or do both—none of which are politically easy. And if investors demand higher returns on U.S. debt, interest rates for mortgages, car loans, and credit cards could rise, making life more expensive for everyone. Right now, interest payments on the debt rival Social Security in…
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