US national debt hits $40 trillion: How policymakers should respond, explained

The national debt hasn’t been a major issue in the 2026 midterms. But perhaps it should be. As of last month, the United States is in debt to the tune of $40 trillion. That’s 12 zeros, which averages out to about $116,000 per American.

It’s enough that even economists like Jared Bernstein,…