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US Debt Hits $40 Trillion and Interest Tops $1 Trillion a Year

US Debt Hits $40 Trillion and Interest Tops $1 Trillion a Year

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The United States crossed forty trillion dollars in gross debt this week — but the round number is almost beside the point. Bam Rather breaks down what's actually new: cheap pandemic-era borrowing is rolling off, interest payments now exceed the entire defense budget, and the Treasury is quietly buying back its own bonds with fresh loans. The milestone is a scoreboard. The structure behind it is the symptom.
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