US debt crosses $40 trillion threshold after doubling under Trump and Biden
Interest costs now make up about half of this year’s $2 trillion borrowing need, according to Treasury data.
- U.S. national debt has surpassed $40 trillion for the first time, marking a doubling from roughly $19.95 trillion in 2017 and underscoring the rapid expansion of federal borrowing.
- Both the Trump and Biden administrations oversaw major increases in the debt, with Reuters estimating that Trump’s terms have added about $11.6 trillion and Biden’s presidency about $8.4 trillion, alongside pandemic spending and persistent budget deficits.
- Rising interest costs and spending on Social Security and health programs are putting increasing pressure on the federal budget, with interest payments now exceeding Medicare spending as an expense.
- Economists and fiscal watchdogs are warning that continued deficits could create greater financial risks, while weaker demand for U.S. government bonds and higher long-term Treasury yields are adding to concerns about the country’s fiscal outlook.
310 Articles
310 Articles
The debt crisis of the United States (US) is increasing by leaps and bounds. This Thursday, the indebtedness of the world’s largest economy has for the first time in history reached 40 trillion dollars (34.4 billion euros), as recorded in the records of the country’s Treasury Department. In this way, the ... Continue reading “U.S. deepens its debt crisis by surpassing for the first time the 40 billions in full price escalation”
As of yesterday, the US government debt has crossed the 40 trillion dollar mark. That is 40,000 billion dollars, or 34,200 billion euros—a staggering amount and a doubling in 10 years. But how dangerous is such a high debt at the moment? And can we feel the effects of that here?
America's Debt Hits $40 Trillion: Over $1T Interest Bill Nearly Matches Defense Spending
Americans borrowing for a house or a car are helping to pay their government's interest bill, which has already exceeded the military budget. The United States this week passed $40 trillion in national debt, and interest alone now exceeds $1 trillion a year. The Treasury Department's daily statement, published on Wednesday, put the total at $40.05 trillion as of Tuesday, 18 August. The previous trillion took five months to accumulate. The Congre…
U.S. national debt exceeds US$40 trillion for first time
The U.S. gross national debt has surged past US$40 trillion for the first time, government data showed Wednesday, outstripping earlier forecasts at a pace fuelled in part by U.S. President Donald Trump’s invalidated tariffs.
Trump warns 'economic D-Day' as US debt exceeds $40 trillion
Donald Trump has threatened to launch a major campaign against Iran’s economy while the US national debt surged past $40 trillion for the first time ever. The US president warned that ‘tremendous’ punishment would be imposed on any country that helps or does business with the Islamic Republic. As the November elections quickly approach in […]
The equivalent of 34.3 trillion euros is a gigantic figure for which experts also blame Donald Trump's customs policy.
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