U.S. debt exceeds $39 trillion

On Wednesday, the national debt surpassed $39 trillion, according to U.S. Treasury data. It had reached $38 trillion only five months prior. At the current pace of increase (roughly $7 billion per day), the debt could exceed $40 trillion within the next year. The federal government is spending 18 to 20 percent of total federal revenues on net interest payments for the debt, putting it perhaps one bond crisis away from financial calamity.