Marketplace All-in-One The national debt hit $38 trillion, and yes, you should care
Oct 23, 2025
In this lively discussion, Sabri Beneshore, a Marketplace reporter, unpacks the implications of the U.S. national debt hitting $38 trillion. Amanda Mull from Bloomberg Businessweek shares insights on why premium credit card perks are booming and their popularity among affluent consumers. Matt Levin illustrates how always-on AI wearables could reshape relationships, with couples using AI for better communication. Spencer Kornhaber of The Atlantic explores how critics are adapting in the digital age, blending entrepreneurship with a passion for their craft.
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Debt Now Matches The Economy
- The U.S. federal debt has grown to about $38 trillion, roughly the size of the entire economy.
- Rising government borrowing pushes up interest rates and crowds out private investment, slowing growth.
Borrowing Raises Everyone's Rates
- Growing government borrowing raises interest rates, making mortgages and other loans more expensive.
- That higher cost of capital reduces investment in small businesses and slows economic growth.
Interest Costs Are Becoming Material
- Interest costs are ballooning: last year interest ate up about 13 percent of the federal budget.
- Projections show certain policies could add trillions to the debt, raising risk of a future fiscal crisis.