- Borrowing costs are climbing — higher Treasury yields have pushed mortgage and auto rates up, making homes and cars more expensive.
- Global shocks (the Iran war) plus U.S. policies like tariffs and big deficits are driving those rate increases and turning debt into a key midterm campaign issue.
- Economists doubt Trump’s budget fixes will close the gap; rising interest payments are crowding out other spending and could limit the U.S. safety net for future crises.
The news, distilled into what matters.
Get the full experience in the app — topics, comments, and audio summaries.