What America’s $40 trillion debt means for taxpayers

The Treasury Department announced this week that the U.S.’s national debt surpassed $40 trillion, a grim milestone that promises to have a reverberating impact on millions of citizens. The debt, valued at around $120,000 per taxpayer, has been incurred because the government has been steadily spending more than it collects in taxes, creating a gaping deficit. […]

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