The government plans to borrow heavily through the rest of the year, and that spells more debt, higher interest costs, and eventually more inflation for regular Americans.

• The Treasury expects to borrow $739 billion this quarter and another $628 billion next quarter — nearly $1.4 trillion in new debt in six months.
• The new estimate came in $68 billion higher than planned three months ago, because less cash is coming in as the economy weakens.
• National debt is $39.7 trillion now and will hit around $41 trillion by year's end, not counting future promises like Social Security and Medicare.
• Interest payments alone have topped $827 billion this year — more than defense, Medicare, or Medicaid — and keep rising as old low-rate debt gets replaced at higher rates.
• The likely endgame: when the next crisis hits, the government borrows trillions more and the Fed prints money, driving inflation that hurts wage earners far more than people who own homes, stocks, and gold.

Outlook: Expect borrowing and interest costs to keep climbing, widening the gap between asset owners and everyone else.