“$40 trillion of debt doesn’t exist solely on the government’s ledgers; it is felt throughout the economy and finds its way to the pocketbooks of people one way or another. The more we borrow, the more we exacerbate inflation, squeeze out other priorities in the budget, and leave ourselves vulnerable to emergencies at home and turmoil abroad.”

Maya MacGuineas · said date not stated · reported 2026-08-19

MacGuineas warned about the broader economic effects of the $40tn debt milestone in a statement.