A New Milestone for U.S. Debt: $40 Trillion

P.M. Edition for Aug. 19. Today the total U.S. debt passed $40 trillion . WSJ economics reporter Matt Grossman discusses what that means for how the government functions. Plus, a successful trial of a mRNA vaccine for melanoma could mean potential new treatments for a deadly cancer–and news of the trial results more than doubled Moderna’s stock price. And the Federal Trade Commission says…