Here's how America's $40 trillion debt can hit your wallet

Why it matters

The U.S. national debt surpassing $40 trillion is a significant milestone that raises concerns about fiscal policy and potential impacts on taxes and government spending, which could indirectly affect credit markets and borrowing costs. However, this is a well-anticipated development rather than a sudden market-moving event, and it does not immediately alter credit market conditions or regulatory frameworks.

Sources

• Axios

  Here's how America's $40 trillion debt can hit your wallet

  The U.S. national debt this week topped $40 trillion, raising fresh concerns about how rising federal borrowing could affect Americans' finances. Why it matters: Americans don't personally owe the national debt, but rising debt could pressure lawmakers to raise taxes, cut…