Jump to contentAllNewsSportCultureLifestylePresident Donald Trump (L) speaks, flanked by US Secretary of Treasury Scott Bessent, during a roundtable discussion on his "no tax on tips" policy at the AC Hotel Las Vegas Symphony Park (AFP/Getty)The U.S. Treasury Department confirmed that national debt surpassed $40 trillion for the first time, reaching $40.047 trillion. Federal debt has more than doubled in less than a decade because of rapid pandemic borrowing, persistent budget imbalances, and tax cuts. The Committee for a Responsible Federal Budget warned that the mounting debt exacerbates inflation and heightens economic vulnerability. Treasury Secretary Scott Bessent doubled buybacks of long-term Treasuries to suppress yields as long-term bond yields neared two-decade highs. Interest outlays have surpassed Medicare spending as the second-largest federal budget item, driven by expanded borrowing and rising interest rates. In fullUS national debt crosses $40 trillion mark after more than doubling in only a decadeMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
National debt soars past 40 trillion dollars raising fresh inflation worries
Jump to contentAllNewsSportCultureLifestylePresident Donald Trump (L) speaks, flanked by US Secretary of Treasury Scott Bessent, during a roundtable discussion on his "no tax on tips" policy at the AC Hotel Las Vegas Symphony Park (AFP/Getty)The U.S. Treasury Department confirmed that national debt surpassed $40 trillion for the first time, reaching $40.047 trillion. Federal debt has more than doubled in less than a decade because of rapid pandemic borrowing, persistent budget imbalances, and tax cuts. The Committee for a Responsible Federal Budget warned that the mounting debt exacerbates inflation and heightens economic vulnerability. Treasury Secretary Scott Bessent doubled buybacks of long-term Treasuries to suppress yields as long-term bond yields neared two-decade highs. Interest outlays have surpassed Medicare spending as the second-largest federal budget item, driven by expanded borrowing and rising interest rates. In fullUS national debt crosses $40 trillion mark after more than doubling in only a decadeMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
