How rising national debt can affect your finances

According to data released by the Treasury Department this week, the U.S. government’s gross national debt reached a record $38 trillion — just two months after hitting $37 trillion — marking the fastest accumulation of $1 trillion in debt outside the COVID-19 pandemic. The milestone comes as the government grapples with an ongoing federal shutdown. And at the current pace, experts warn the total could climb to $39 trillion within a matter of months. While the national debt may be hard to conceptualize, e ...