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.
202 Articles
202 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."
USA's statsgjeld har passes 40,000 billion dollar, viser tall som det amerikanske finansdepartementet har lagt frem.
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.
The American government's debt first exceeded the symbolic threshold of $40,000 billion, according to data published by the Ministry of Finance on Wednesday, on the basis of the increase in borrowing costs, writes AFP.
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