Who Covers the $40 Trillion US Debt

The US national debt surpassed the $40 trillion mark on August 18, increasing financial burdens and directly impacting citizens. It is estimated that an individual's share of the debt amounts to approximately $117,000. Rising bond yields are leading to higher borrowing costs for students, families, and retirees, with households expected to pay back nearly $104,000 over ten years under baseline conditions. This increasing debt raises concerns about rising interest costs, especially in scenarios where deficits worsen, potentially negatively affecting retirement benefits, small business financing, and other essential services. The report advocates for necessary measures to reform government financing before the crisis worsens.

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