U.S. National Debt Approaches $40 Trillion Mark

Why it matters locally: An increasing national debt could impact federal funding for infrastructure projects and social services in Missouri, and potentially lead to higher interest rates that affect state and local borrowing costs.

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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.