Here's how America's $40 trillion debt can hit your wallet
- America: 12 events in the last 90 days
- Previous: 50 days earlier · MIT in the media: Innovating and educating for the next 250 years of America
What happened
The U.S. national debt this week topped $40 trillion, raising fresh concerns about how rising federal borrowing could affect Americans' finances. Why it matters: Americans don't personally owe the national debt, but rising debt could pressure lawmakers to raise taxes, cut spending or change federal benefits. State of play: The gross federal debt hit $40 trillion for the first time on Wednesday. That figure includes…
Summary assembled by rule from the sources below
Timeline
- First appeared on AxiosAxios