What's happening with the national debt — and how it could affect your wallet
America's national debt rose to over $40 trillion this week, and it might mean your mortgage or auto loans could get more expensive.
The United States recently reached a staggering $40 trillion national debt for the first time. This significant increase in federal borrowing has the potential to affect consumers through higher interest rates. Treasury Secretary Scott Bessent has been using debt buybacks to manage high bond yields, which have spiked recently due to economic uncertainty. The growing federal debt could lead to increased costs for consumers, as lenders may demand higher interest rates to compensate for the elevated risk.
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