Aug 19, 2026 5:51 PM EDT
WASHINGTON (AP) — The national debt surpassed a record $40 trillion on Wednesday, a staggering milestone as defense costs, social programs like Social Security and Medicare and interest on the burgeoning deficit to make up an enormous share of federal spending.
The milestone figure was recorded just five months after the U.S. hit a record $39 trillion debt in March. It reached $38 trillion five months before that, in October.
WATCH: National debt nears $40 trillion: How we got here and why it matters
The unprecedented $40 trillion figure highlights competing administration priorities, from boosting the defense spending that the U.S. relies on to carry out President Donald Trump's almost-6-month-old Iran war to lowering the cost of gas and groceries.
