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US faces $40T debt crisis from aging
U.S. national debt has risen to a record high of $40 trillion, according to the U.S. Treasury Department, raising long-term concerns with projections reaching $50 trillion within six years. The rise in debt is mainly due to an aging population, as approximately 10,000 Baby Boomers retire daily, and seniors are living longer lives, which increases spending on Social Security and healthcare, placing additional pressure on public finances amid a labor shortage. Experts anticipate that this will further exacerbate the debt burden and lead to long-term economic repercussions.
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