US debt reaches historic $40 trillion mark in less than 5 months after $39 trillion
America's national debt has officially crossed $40 trillion, marking a historic milestone for the US economy. Treasury data show that debt has more than doubled in less than a decade, while rising deficits and $1.1 trillion in interest payments are adding pressure on the federal budget.
In this video, we break down what is driving America's growing debt, the role of spending and borrowing under Donald Trump and Joe Biden, and why rising Treasury yields and weakening foreign demand could increase borrowing costs across the economy.
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