As U.S. debt hits $40 trillion, Americans will foot the bill: $700 a month for retirees, and homebuyers could take a $53,000 hit, report finds

U.S. national debt hit $40 trillion, with interest costs set to top $1 trillion in fiscal 2026 — a growing political concern ahead of the midterms.
The Conference Board warns sustained borrowing could raise household borrowing costs — homebuyers might pay tens to hundreds of thousands more over a mortgage depending on fiscal choices.
Social Security and Medicare trust funds are projected to run dry in about 7–8 years, risking benefit cuts or large Treasury backfills that would affect retirees and taxpayers.