US Federal Debt Hits $40 Trillion Milestone
#FederalDebt #EconomyFederal debt hit $40 trillion, with annual interest topping $1 trillion. Rising Treasury yields increase borrowing costs for mortgages and car loans. Congress must raise taxes or cut spending, though fiscal discipline wanes. Bond market anxiety signals urgency for action. read more
U.S. Federal Debt Hits $39 Trillion, Tops Economy
#FederalDebt #EconomyThe federal debt exceeded $39 trillion, surpassing the entire U.S. economy for the first time. This milestone signals risks, yet policymakers show little urgency to address the growing fiscal imbalance. read more
Student Loan Defaults Hit Record High
#StudentLoanCrisis #FederalDebtOver 9 million US student loan borrowers are in default, with the total portfolio nearing $1.7 trillion. The Treasury Department will now manage defaulted loans, a move praised by Republicans but criticized by Democrats for adding borrower confusion. read more