US debt crosses $40 trillion threshold after doubling under Trump and Biden
- 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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268 Articles
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.
US sovereign debt is rising above the $40 trillion mark for the first time.
The US national debt topped $40 trillion for the first time in history on Tuesday, according to data released by the US Treasury Department on Wednesday. The figure exceeded forecasts and, according to some analysts, represents a serious blow to US President Donald Trump, who promised to reduce public spending during the election campaign.
US national debt tops $40 trillion after doubling in a decade
NEW YORK — The US national debt has topped $40 trillion for the first time, the Treasury Department said on Wednesday, drawing fresh warnings that a fiscal crisis is brewing as ballooning costs for social safety-net programs and interest payments far outstrip revenues held back by tax cuts.The rise reflects years of heavy spending under both the Trump and Biden administrations, along with higher interest payments that have steadily added to the …
Hawaii Tribune-Herald
West Hawaii TodayUS debt hits $40 trillion as America’s borrowing binge continues
WASHINGTON — America’s gross national debt topped $40 trillion for the first time Wednesday, an ominous milestone for an economy that sits on a shaky fiscal foundation after decades of borrowing to pay for the rising costs of the military, social safety net programs and President Donald Trump’s tax cuts. The post US debt hits $40 trillion as America’s borrowing binge continues appeared first on Hawaii Tribune-Herald.
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