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An electronic display in Washington, D.C., shows the U.S. national debt on Aug. 19, as federal debt surpassed $40 trillion for the first time. Photo: Mandel Ngan/AFP via Getty Images.
The U.S. national debt this week topped $40 trillion, raising fresh concerns about how rising federal borrowing could affect Americans' finances.
Why it matters: Americans don't personally owe the national debt, but rising debt could pressure lawmakers to raise taxes, cut spending or change federal benefits.
