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U.S. Debt Surpasses $40 Trillion | Seattle News
The U.S. national debt just shattered a historic milestone, hitting over $40 trillion for the first time — up from $39 trillion just five months ago. With projections showing $2 trillion in borrowing this year alone to fund military spending and tax cuts, the nation’s debt burden is accelerating. More than half of that debt now goes toward interest payments. The deficit, at 6% of GDP — a wartime-level figure — is widening as experts warn the debt-to-GDP ratio could soar to 120% in a decade and 175% in thirty years under current policies. Fiscal watchdogs are sounding the alarm, predicting $50…
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