The federal debt topped $40 trillion for the first time this week. Investors who buy government bonds are demanding higher interest rates to finance the growing debt load.
Mandel Ngan/AFP
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Mandel Ngan/AFP
Three things to know about the $40 trillion federal debt
The U.S. federal debt hit a record $40 trillion this week. The debt has doubled since 2017, and just paying interest on the accumulated debt now costs the government more than $1 trillion a year.
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