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AMERICA’S $39 TRILLION DEBT HITS EVERYDAY FINANCES
A Conference Board report warns that rising U.S. debt could increasingly squeeze families and businesses through higher borrowing costs.
The debt now exceeds $39 trillion, or roughly $116,000 per American.
Higher deficits could raise costs for student loans, mortgages and small-business financing, while also threatening retirement programs.
Under current projections, Social Security’s main retirement trust fund could become insolvent by 2032, adding urgency for fiscal reforms.
