This Is When the Federal Debt Actually Matters

July 30, 2026

By Raphi Schorr – Barron’s

Japanese firms could finance multibillion-dollar fabrication plants on terms that their U.S. competitors couldn’t match. Within a decade, Japan controlled more than half of the global semiconductor market.

The U.S. now faces a similar funding bind, this time against China and over artificial intelligence rather than semiconductors.

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This Is When the Federal Debt Actually Matters

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