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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By
David Sinclair
• 7 mins read
Fiscal policy uses government spending, taxes, and transfers to influence the economy. Learn how budgets, deficits, debt, multipliers, stabilizers, and trade-offs work.