U.S. National Debt Approaches $40 Trillion Mark

Why it matters locally: While the national debt is a federal issue, a rising debt could influence federal funding allocations for infrastructure projects, defense contracts, and research initiatives that benefit Virginia's economy and workforce.

The United States national debt is expected to reach $40 trillion, according to projections. This upcoming figure represents a new record high for the nation's total federal borrowing. Economists view this milestone as an indicator. Lisa Desjardins, a congressional correspondent, explained that many economists consider the figure a warning sign.