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David Frum Examines Rising U.S. Borrowing Costs

Close-up of dollar bills with a financial chart on a screen and the Capitol in the distance at sunset.
Thought Leader: David Frum
September 26, 2026
Source: The Atlantic
Written by: David Frum

In a new piece for The Atlantic, David Frum examines the forces behind rising U.S. borrowing costs and what they could mean for the American economy. With the national debt now above $40 trillion and Treasury yields climbing, Frum argues that the United States is paying a growing premium to borrow compared with several other major economies.

Frum attributes the shift to a combination of mounting federal debt and, in his analysis, concerns about fiscal policy and the credibility of U.S. institutions under President Donald Trump. He points to debates over Federal Reserve independence, past debt-ceiling confrontations, and the country’s expanding interest burden as factors that can influence investor confidence. Other analyses have also identified global inflation, the Iran war, heavy government borrowing, and increased competition for capital as contributors to the recent rise in bond yields.

For audiences navigating a rapidly changing political and economic landscape, David Frum brings decades of experience analyzing the intersection of government, policy, markets, and global affairs. His perspective helps leaders examine how political decisions and institutional changes can reverberate through the economy and affect businesses and households alike.

To learn more about hosting David Frum, contact WWSG.

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