The United States is entering the most expensive phase of retirement. Some of America’s oldest are eligible for more than $100,000 a year in combined Social Security benefits, while remaining as one of the wealthiest generations in the country. The national debt is rising—just passing $40 trillion this month—and Social Security is set to enter
WASHINGTON — The national debt surpassed a record $40 trillion on Wednesday, a staggering milestone as defense costs, social programs like Social Security and Medicare and interest on the burgeoning deficit make up an enormous share of federal spending. The milestone figure was recorded just five months after the U.S. hit a record $39 trillion
The U.S. national debt is hurtling toward $40 trillion, and Bank of America Research strategist Michael Hartnett’s “Anything but Bonds” framework is becoming ever more applicable. Boiled down, Hartnett warns the US is accumulating too much debt, which causes the government to issue too many bonds—and investors want compensation for the fiscal risk—making long-duration Treasurys
The government’s near-$40 trillion national debt is now costing the Treasury more than $3 billion a day in service payments, according to a new report from the Congressional Budget Office (CBO). In its August budget update, the CBO reported that net interest on public debt totaled $963 billion between October 2025 (when the fiscal year
The federal government’s tariff windfall is evaporating faster than expected, and the Congressional Budget Office says it’s blowing a $200 billion hole in this year’s budget. CBO now projects the fiscal 2026 deficit will hit $2.1 trillion, according to the nonpartisan scorekeeper’s Monthly Budget Review released Monday—up from the $1.9 trillion the agency forecast in
Liaquat Ahamed has spent his career studying the moments when the world’s financial system breaks down — the bad bets, the collective delusions, and the geopolitical accidents that tip economies into catastrophe. Right now, he says, he doesn’t like what he sees. “Where we are today is frightening,” Ahamed, the Pulitzer Prize-winning author of Lords of