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.
248 Articles
248 Articles
US sovereign debt has reached a new record. What does this mean for US finances? The background.
US public debt has risen to over $40 trillion for the first time.
The Washington Standard
Mish Talk - Global Economic Trend AnalysisUS Debt Tops $40 Trillion, The Pace Is What’s Most Alarming
Debt topped $40 trillion today. But let’s discuss what really matters. Staggering Headline While crossing the $40 trillion milestone makes for a staggering headline, it is economically misleading. The number that actually drives financial markets, dictates national interest costs, and impacts inflation is Debt Held by the Public. To understand the true weight of the U.S. fiscal trajectory, one must strip away Intragovernmental Holdings. The tota…
The US government deficit has more than doubled since the 2008 financial crisis and now accounts for almost 125% of US gross domestic product (GDP). The phenomenon is accelerating as a result of Donald Trump's policy.
The U.S. government debt has crossed the $40,000 billion mark for the first time this Wednesday, August 19. An unexpected course in view of the Congressional Bureau's (CBO) budget forecasts of $39,400 billion by the end of the year. To reassure investors and ease rates, the Department of Finance announced larger long-term bond buybacks in September.
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