Invisible tax: Government debt is crushing your finances

Mortgage rates rose again this week, with the average 30-year fixed rate climbing past 6.8%. That’s not just a post-pandemic hangover; it’s a warning sign. Behind the scenes, rising government debt is putting steady upward pressure on borrowing costs.

If your mortgage, car loan, or credit card payments are more expensive than they were a few years ago, you’re not alone — and despite what you may have heard, it’s not just because of inflation or Federal Reserve policy. The surge in federal...