What America’s $40 Trillion Debt Actually Costs You @MichaelSmerconish
What America’s $40 Trillion Debt Actually Costs You  @MichaelSmerconish
Uploaded September 2026 | Updated September 2026, 3 weeks ago
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America's national debt has crossed $40 trillion — but what does a number that large actually mean for you?

Michael Smerconish sits down with Michael Peterson, CEO of the Peter G. Peterson Foundation, to break down how the national debt affects interest rates, mortgages, car loans, credit cards and the country's ability to pay for its priorities.

Peterson also explains why the problem has been decades in the making, why both political parties bear responsibility, and what it would actually take to put the country on a more sustainable path.

Is Washington willing to make the difficult choices before the problem gets worse?

Vote on today's poll and subscribe to the daily newsletter at smerconish.com

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What America’s $40 Trillion Debt Actually Costs You

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