Uploaded August 2026 | Updated September 2026, 3 weeks ago

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The U.S. national debt has crossed $40 trillion — but what does a number that large actually mean for everyday Americans?

Scripps News Chief Washington Correspondent Joe St. George explains how growing federal debt can put pressure on Treasury markets, contribute to higher interest rates and make borrowing for things like a home more expensive.

He also breaks down why reducing the debt is so difficult, with major federal spending tied to Social Security, Medicare, the military and an increasingly costly expense: interest on the debt itself.
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