U.S. Debt Tops $40T

Federal debt has doubled in a decade, reaching a record $40 trillion.

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US Debt at Staggering $40 Trillion Milestone, Debt-Driven 'Doom Loop' Spells Serious Trouble Ahead

US national debt passes record $40 trillion

National debt just hit $40T. Here’s what it means for the economy

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The Treasury Department’s daily statement showed total U.S. government debt at $40,047,425,768,420.22, crossing $40 trillion for the first time. The total includes $32.26 trillion held by the public and $7.78 trillion in intragovernmental holdings. The debt has more than doubled since it first crossed $20 trillion in late 2017 and rose by about $1 trillion after reaching $39 trillion in March. Rising interest costs are now among the largest federal spending categories, alongside Social Security, Medicare and defense.

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America’s $40 trillion national debt is a serious and worsening fiscal threat. Rising borrowing and interest costs are already hurting the economy and could create long-lasting damage for households, businesses, and government finances.