US national debt tops $40 trillion after $1 trillion rise
Business
The US national debt has officially crossed $40 trillion, jumping by $1 trillion in just five months.
This massive number mostly comes from spending on things like defense, Social Security, Medicare, and paying off interest.
The debt has been climbing for years under both Trump and Biden, especially after heavy borrowing during the pandemic.
Rising debt makes Americans's bills pricier
Rising debt is already making life pricier for Americans, think bigger bills for car loans, mortgages, and everyday stuff.
Experts warn this can't go on forever; Margaret Spellings, president and CEO of the Bipartisan Policy Center, calls it "unsustainable" and says tough choices are coming.