U.S. national debt exceeds $40 trillion for the first time - Reuters
Kyiv • UNN
U.S. national debt reached $40.048 trillion amid rising spending and interest payments. Budget watchdog groups are warning of a debt crisis.
The total U.S. national debt has crossed the record $40 trillion mark for the first time. Reuters reports this, according to UNN.
Details
The total U.S. debt exceeded $40 trillion for the first time, the U.S. Treasury Department said on Wednesday, prompting fresh warnings of an impending fiscal crisis as rising spending on social security programs and interest payments far outpaces revenues constrained by tax cuts
According to available information, of the total amount, $32.266 trillion consists of Treasury securities held by the public. Another $7.782 trillion is accounted for by intragovernmental debt holdings.
The federal government's debt burden has more than doubled in less than a decade, from $19.95 trillion when President Donald Trump first took the oath of office in January 2017. Approximately one-third of this increase occurred during two years of frantic government borrowing to finance the COVID-19 pandemic response measures undertaken by Trump and former President Joe Biden, while the remainder is attributed to the fiscal decisions of both presidents combined with persistent imbalances in taxes and spending
Budget groups had expected for several weeks that the national debt would cross the $40 trillion mark. They warn of the possibility of a full-scale debt crisis if lawmakers fail to address the unsustainable budget situation.
We remind you
The U.S. federal budget deficit in July reached a record $432 billion due to rising spending, particularly on Medicare. During the first 10 months of fiscal year 2026, the deficit amounted to $1.8 trillion, while debt-service payments increased by 15%.