US debt tops $40 trillion - $20 trillion since Trump first took office

US debt hits record $40.047 trillion. Photo credit: APThe US national debt has crossed the $40 trillion mark for the first time, according to Treasury data showed on Wednesday. The milestone comes as rising spending on defence, Social Security and Medicare, alongside mounting interest payments, pushes federal borrowing to a record level.The latest milestone comes as the pace of borrowing outstrips earlier forecasts, with longer-term obligations for healthcare and retirement benefits continuing to grow.The debt stood at $40.047 trillion on Tuesday, including $32.266 trillion held by the public and $7.782 trillion in intragovernmental holdings, according to Treasury data.This came less than five months after the debt crossed $39 trillion. It has more than doubled from $19.95 trillion when Do