National debt tops $40 trillion after doubling in under 10 years
Federal debt has mounted amid tax cuts and trillions in pandemic spending, adding to the nation's interest payments.
Watch CBS News
Federal debt has mounted amid tax cuts and trillions in pandemic spending, adding to the nation's interest payments.
The Treasury Department plans to add President Trump's signature to new U.S. paper currency, a first for a sitting president.
U.S. Treasury Secretary Scott Bessent announced the creation of a new IRS task force and other measures to combat fraud, underscoring the Trump administration's focus on Minnesota amidst the immigration crackdown.
The national debt is rising faster than ever and threatens to undermine confidence in the economy, experts warn.
The Treasury Department said it placed its final order for penny blanks this month as the U.S. moves to end production of the 1-cent coin.
New York Attorney General Letitia James said "this level of access for unauthorized individuals is unlawful, unprecedented, and unacceptable."
A limited series of three coins features designs depicting different eras in the life of famed abolitionist and social activist Harriet Tubman.
Millions of Social Security recipients "need to be very careful" about spending because payments could be delayed, one expert said.
The treasury secretary also told G-7 finance ministers and central bank chiefs meeting in Japan that a first-ever U.S. default on its debts is "unthinkable."
The regional lender, whose collapse is the second-biggest bank failure in U.S. history, is the third bank to be seized by regulators since March.
Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
