The federal debt reached $40 trillion as the government adds red ink at a rapid rate. That's leading nervous investors to demand higher interest rates —pushing up borrowing costs for everyone else.
The U.S. debt tops a record-shattering $40 trillion. Yes, with a T.
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The federal government's accumulated debt has reached a record $40 trillion, according to a daily update from the Treasury Department. Government spending is expected to exceed tax revenues by more than $2 trillion this year.
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