US national debt just hit $40 trillion—more than double in a decade—fueling global financial tension as the Treasury steps in to buy bonds and fight rising interest rates. With inflation stubborn and central banks tightening policy, borrowing costs soar, hitting everything from US mortgages to global markets. China, UK, and Australia are also deep in debt, creating a ripple effect that could trigger stock market drops and slower growth. Watch for the Fed’s September meeting—it could be the tipping point for global rates and economic stability.
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