The landmark number was reached in part because of lost revenue from invalidated tariffs.
President Trump’s promises to restore fiscal order and reduce the amount of America’s debt burden have been undercut by spending on the Iran war, tax cuts and tariff refunds.
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 spending or change federal benefits.State of play: The gross federal debt hit $40…
There is a lot to unpack about the national debt. Here's a starter guide to what's happening with the national debt right now.
