The national debt hits $40 trillion with no slowing down in sight.Hayden Panettiere’s death reignites discussion over the treatment of child stars in Hollywood.
And why Florida could have an outsized role in the November election.Here’s what to know today.The national debt hit $40 trillion.Washington is shrugging.The country’s national debt now totals over $40 trillion, with no signs of slowing down.
Since 2020, U.S.debt has grown 68%, while the deficit has doubled.This is Morning Rundown, a weekday newsletter to start your day.
Sign up here to get it in your inbox.American consumers are facing down higher prices on everything from credit cards to mortgages.And none of it seems to matter much in Washington.President Donald Trump and the Republican-controlled Congress have enacted an agenda that adds to the debt.
The issue gained even greater urgency this week, as government borrowing costs have begun to soar, but there has been virtually no political pressure to do anything about the deficit.Yesterday, the Treasury Department intervened to try to bring longer-term rates back under control.The president remains unmoved.
Hours before the debt officially hit the bleak benchmark, when asked if Americans should be concerned about bond market volatility, Trump responded: “We have a very powerful country and we are powering through these interest rates.”Consumers and businesses could soon start paying a price.Excessive government borrowing can weaken the purchasing power of the dollar, lowering living standards and undermining market stability.Read the full story here.Related coverage:For subscribers: The Trump administration is withholding almost $300 million in loans approved by Congress from small businesses.New maps make Florida a key player in fight for House majority00:10Moskowitz wins Florida's 25th District Democratic primary00:0000:00Florida may have faded as a presidential battleground, but it could help decide who controls the House.
Up to a half...