Federal fiscal squeeze

Debt $40T; FY2026 deficit $2.1T; net interest $1.17T YTD exceeds defense. 30-year yield 5.327% (19-year high). TBAC warns of $1.45T funding shortfall. Treasury buybacks doubled to $4B per operation. Conference Board report quantifies household impact: $53k–$100k extra mortgage costs, $173–$754/month SS cuts. Bond market meltdown article proposes reconciliation cuts. Debt-to-GDP >100%, interest > defense, r>g flipping.