U.S. National Debt Approaches $40 Trillion Mark

Why it matters locally: While the national debt is a federal issue, a rising national debt can influence interest rates, federal spending on programs affecting Iowa, and the overall economic climate which impacts Iowa's agricultural and manufacturing sectors.

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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.