America’s debt has crossed $40 trillion, with roughly $1 trillion added in only five months. A 10-year Treasury yield of 5.04% has made new borrowing more expensive, while net interest payments reached $970 billion in fiscal 2025; about $150 billion above defense spending. Moody’s removed the U.S. government’s last AAA rating that year. As lawmakers repeatedly delay budget decisions, interest costs are becoming one of Washington’s fastest-rising expenses.
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