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America’s borrowing costs are surging. Washington is shrugging.

The national debt now totals $40 trillion, or about 123% of the gross domestic product, as it’s getting costlier to pay down. Few politicians are eager to confront the issue.

Trump Readies Tariffs And Price Floor To Help US Polysilicon
The U.S. Capitol on Aug. 5, 2026.Aaron Schwartz / Bloomberg via Getty Images file

WASHINGTON — A record national debt. A rapidly ballooning deficit. Interest payments on track to surpass Medicare as the government’s greatest expense. None of it seems to matter much in Washington, where President Donald Trump and the Republican-controlled Congress have enacted an agenda that adds trillions of dollars to the national debt, with upcoming legislative plans that would pile on even more red ink.

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Original source: https://www.nbcnews.com/business

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