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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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37 Articles
37 Articles
Since 2017, when Trump first became president, the national debt has increased to 256,000 billion kroner.
·Copenhagen, Denmark
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The U.S. public debt for the first time exceeded the threshold of $40 trillion, the Treasury Department reported on Wednesday. The reading draws attention at a time when experts' alerts on U.S. public accounts increase. Fears relate to the possibility of a tax crisis resulting from tax cuts and rising costs with social protection network programs, as well as debt interest demanded by investors.
·Rio de Janeiro, Brazil
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Coverage Details
Total News Sources37
Leaning Left11Leaning Right10Center14Last UpdatedBias Distribution40% Center
Bias Distribution
- 40% of the sources are Center
40% Center
L 31%
C 40%
R 29%
Factuality
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