Video: The national debt hit $40 trillion. What does that mean for the average American family?
Aug 20, 2026, 11:18 AM | Updated: 11:45 am
The U.S. national debt hit a grim new high this year of $40 trillion, nearly double what it was just 10 years ago. This train is barreling down the tracks and no one – not Congress, not a Republican President, not a Democratic President – seems willing to make it stop.
When it trickles down to the average American family, what does it mean? Dr. Michael Kofoed, associate professor of economics at the University of Tennessee at Knoxville, joins Inside Sources with some insights.
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