$40 trillion debt balloon is a warning sign for US economy and the world

US national debt has passed a record US$40 trillion (£29.4 trillion). This milestone is a major warning sign. It reveals vulnerabilities that threaten the long-term economic stability of the US and the rest of the world. The speed of US debt accumulation is staggering. US national debt first reached $1 trillion in 1941 and, after rising to $20 trillion in 2017, has more than doubled over the past nine years. It is expected to increase by $2.1 trillion in the 2026 fiscal year alone. The primary…