U.S. National Debt Officially Surpasses $40 Trillion
U.S. national debt has officially crossed $40 trillion for the first time, with borrowing rising rapidly and interest costs becoming an increasingly large part of federal spending.
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U.S. national debt has officially crossed $40 trillion for the first time, with borrowing rising rapidly and interest costs becoming an increasingly large part of federal spending.
The U.S. national debt is now expected to reach $40 trillion months earlier than previously forecast, while investors demand higher yields to finance rising government borrowing.
The U.S. national debt has surpassed $40 trillion, while economists say a full repayment is unlikely in the modern era.
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The Federal Reserve lowered its benchmark interest rate by 25 basis points to a range of 3.75%-4.00%, marking the second consecutive cut this year as economic uncertainty deepens amid a prolonged government shutdown.
The U.S. Consumer Price Index rose 3% year-over-year in September, maintaining pressure on household budgets and complicating the outlook for future interest-rate cuts.