Divide $40 trillion by the U.S. population and every American is on the hook for roughly $117,000. The Conference Board modeled several scenarios.

America's national debt rose to over $40 trillion this week, and it might mean your mortgage or auto loans could get more expensive.

The US debt crossed the $40 trillion threshold after adding $1 trillion in just five months. The total amount is equivalent to what an average US worker would earn in a whopping…