US debt crosses $40 trillion threshold after doubling under Trump and Biden
Treasury data show the debt doubled in less than a decade as higher yields raise borrowing costs for mortgages, cars and federal financing.
- 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.
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186 Articles
An erratic customs policy, long-term payment obligations, rising interest costs - the US continues to be in debt. Experts are concerned: "We are really putting our economy and the future of our country in jeopardy."
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.
A new record level has been reached. The US federal debt has passed 40 trillion – 40,000,000,000,000 – dollars.
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.
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