America’s $40 trillion debt mountain threatens retirement amid rising borrowing costs

Public debt swelled to about $40.0 trillion by Aug. 18, driven largely by pandemic borrowing and persistent deficits from both Trump and Biden administrations. The government’s debt is projected to reach roughly 120% of GDP by 2036, with interest costs already among the largest expenses, and long-term Treasuries yielding around 5.3%, signaling higher borrowing costs for households and lenders. The piece notes Trump’s self-described “king of debt” label and emphasizes that the debt burden will affect consumers regardless of party. It also advises retirees to consider inflation-hedging strategies (e.g., gold), high-yield cash options, CDs, and professional financial guidance to stress-test retirement plans against higher rates and inflation.