Debt crosses $40 trillion as Washington faces hard fiscal choices
TL;DR Summary
America's national debt has surged past $40 trillion as chronic deficits keep the government borrowing, and a bond-market sell-off signals higher borrowing costs ahead; with political will fractured, lawmakers face unpalatable choices on taxes and spending as elections loom, raising fears of a debt spiral if reforms stall.
Topics:business#economic-policy#fiscal-policy#government-budget-deficits#government-debt#government-spending#national-debt
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