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U.S. Debt Hits $40 Trillion | Durham News
The U.S. national debt just shattered another record, hitting $40 trillion — up from $39 trillion just five months ago. With defense, social programs, and interest payments swallowing huge chunks, this ballooning debt is already squeezing everyday Americans: higher borrowing costs for mortgages, student loans, and car payments, plus slower wage growth and inflation as businesses tighten budgets. Rooted in decades of spending — including pandemic stimulus and tax cuts — the situation is now seen by experts as unsustainable, with looming fiscal peril if Congress doesn’t act before hitting the…
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