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 America’s debt could reshape household finances. Here’s what to watch — and how to prepare. 

financial time bomb
Artem Oleshko / Shutterstock.com

The U.S. government’s debt payments are reaching record levels, with Washington now spending $1.1 trillion annually on interest alone, according to CBS News. That figure represents the cost of servicing the national debt, not reducing it. While federal budget figures can seem distant from everyday life, rising interest payments may have meaningful implications for taxes, government programs…

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