US debt crosses $40 trillion threshold after doubling under Trump and Biden
Interest payments have topped $1 trillion and now rank second in the federal budget, intensifying warnings about rising borrowing costs and fiscal strain.
- 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.
159 Articles
159 Articles
U.S. public debt surged past $40 trillion for the first time amid concerns over the country's fiscal position, following rising social welfare spending and debt interest.
US national debt tops $40 trillion for the first time: Here is how it affects the average American
The US national debt has surpassed $40 trillion, raising concerns about fiscal sustainability amid growing deficits. Rising bond yields reflect investor anxiety, leading to increased interest rates that may burden American households and government programs.
Tax exemptions, the customs gate and the Iran war: Trump's fiscal policy continues to lead the US into debt. Economists warn of a tipping point. But even in Germany, the concern for a new debt crisis is rising.
US national debt exceeds $40 trillion for first time
The uptick in borrowing comes as longer term US obligations linked to social security and health care have been growing, while interest payments have climbed as well. Total public debt outstanding stood at $40.05 trillion at the close of business Tuesday, according to data released Wednesday by the Treasury Department. This stands in contrast to an earlier forecast by the Congressional Budget Office that overall borrowing would hit $39.4 trillio…
Coverage Details
Bias Distribution
- 51% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
