The price of electricity is soaring in the summer heat, when fans and air conditioners are working nonstop. In Tulsa, Okla., people are having their power cut when they can't pay their bills.

(Image credit: Raelynn McMurchy)

The U.S. federal debt hit a record $40 trillion this week. The debt has doubled since 2017, and just paying interest on the accumulated debt now costs the government more than $1 trillion a year.

(Image credit: Mandel Ngan)

The federal debt reached $40 trillion as the government adds red ink at a rapid rate. That's leading nervous investors to demand higher interest rates — pushing up borrowing costs for everyone else.

(Image credit: Tasos Katopodis)