What's happening with the national debt — and how it could affect your wallet

The US national debt recently passed $40 trillion for the first time. Mandel NGAN / AFP via Getty Images The US national debt topped $40 trillion this week, potentially impacting consumer interest rates. Treasury Secretary Scott Bessent is using debt buybacks to manage high bond yields. Rising federal debt since 2015 has increased loan costs and could continue to impact consumer loans. Owing $40 trillion might sound daunting. But for the American government, ballooning debt has become the new…