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U.S. Debt Crisis Hits Record High | Philadelphia News
The U.S. national debt has ballooned to $40 trillion, forcing Washington into painful choices as interest payments now exceed Medicare spending. Bond markets are screaming warnings with borrowing costs at 20-year highs, as Treasury Secretary Scott Bessent’s efforts fall short. Investors demand higher returns because the government is competing for capital against global rivals and tech giants building AI infrastructure. Experts have long warned that rising debt could trigger a financial domino effect, echoing the collapse of Silicon Valley Bank. Hedge funds and insurers are also exposed…
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