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Debt at $40 Trillion and You | Annapolis News
The U.S. national debt just hit $40 trillion — a jaw-dropping milestone with real consequences for everyday Americans. While mortgage rates are influenced by inflation and the Fed, soaring government borrowing can push interest rates higher through a phenomenon called “crowding out,” making loans more expensive for businesses and consumers alike. The government’s own finances are strained too: interest payments alone could more than double by 2036, diverting funds from critical services. Though not yet a full-blown crisis, the debt’s relentless growth threatens future economic growth and…
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