As U.S. debt hits $40 trillion, Americans will foot the bill: $700 a month for retirees, and homebuyers could take a $53,000 hit, report finds

"Addressing the national debt deserves to be a high priority for both voters and lawmakers, to benefit all Americans."

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

The national debt hit yet another record on Wednesday, and political leaders mostly yawned. It wasn’t always this way. Deficits and debt were among the driving issues of the 1992 presidential campaign, nearly upending national politics. Paul Tsongas, the former liberal senator from Massachusetts, ran for the Democratic

Heavy borrowing, increased spending and tax cuts by Democratic and Republican administrations have long raised concern.

The national debt hits $40 trillion with no slowing down in sight.

US national debt hits $40 trillion, Trump picks Dr. Heidi Overton to lead FDA  AP News

THE United States national debt has topped $40 trillion (around £30trn) for the first time in history, according to data released by the US Treasury Department on Wednesday. The data shows that debt held by the public and intragovernmental holdings stood at $32.266trn (around £24trn) and $7.782 trillion (about £5.7trn)

Overall US debt has doubled in a decade since Trump was first elected

Attacking the US Federal Reserve, Trump accused Fed officials of having political motives. However, Trump excluded Chairman Kevin Warsh.

New York Times: Trump's tax cuts and the Iran war are adding to America's growing deficit.

Also, Trump nominates a Kennedy ally to lead the F.D.A. Here’s the latest at the end of Wednesday.

Total US public debt surpassed US$40 trillion for the first time, and has now surged by a third in less than five years, as US lawmakers continue to shrug off calls to contend with historically wide financial deficits. Public debt outstanding stood at US$40.05 trillion as of the close of business on Tuesday, a US Treas

As he has done in the past, Trump accused Fed officials of having political motives.

Trump picks White House ally Overton to lead embattled FDA  Reuters

The national debt is expected to hit a record high as soon as this week, crossing a major threshold of $40 trillion. Congressional correspondent Lisa Desjardins explains why that milestone is a warning sign for many economists.