AXIOS (Herb Scribner) - Here's how America's $40 trillion debt can hit your wallet
The U.S. national debt this week topped $40 trillion, raising fresh concerns about how rising federal borrowing could affect Americans' finances. Why it matters: Americans don't personally owe the national debt, but rising debt could pressure lawmakers to raise taxes, cut spending or change federal benefits. State of play: The gross federal debt hit $40 trillion for the first time on Wednesday. - That figure includes debt the government owes itself. Economists usually focus on the roughly $32 trillion held by the public when assessing how debt affects the economy. - President Trump's tax-and-spending law is projected to add trillions to federal deficits over the next decade, while the White House has sought tens of billions of…