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National Debt Hits $40 Trillion | Texas News
The national debt just hit $40 trillion — more than double since 2017 — as the government spends far more than it collects in taxes, forcing massive borrowing. This decades-long deficit trend is fueled by aging populations straining Social Security and Medicare, tax cuts that slashed revenue, and economic shocks like the Great Recession and pandemic. Interest payments now rival defense and Medicare spending, and if unchecked, debt could soar to $50 trillion in six years — driving up mortgage and car loan rates while squeezing other critical programs. It’s a snowball rolling downhill, with…
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