The United States' debt surpassed a record $40 trillion Wednesday, a staggering milestone as defense costs, social programs and interest on the burgeoning deficit make up an enormous share of

The federal debt reached $40 trillion as the government adds red ink at a rapid rate. That's leading nervous investors to demand higher interest rates —pushing up borrowing costs…

The United States is digging itself into an ever-deeper debt hole.

The national debt is now over $40 trillion, a historic high that economists warn is bad news for the United States.