How $40 Trillion National Debt Grew Under Trump Compared to Biden and Obama

That figure is more than double the $19.95 trillion recorded when Donald Trump first entered the White House in January 2017.

WASHINGTON, Aug 19 (Reuters) - Total US debt has topped $40-trillion for the first time, the Treasury Department said on Wednesday, drawing fresh warnings that a fiscal crisis is brewing as ballooning costs for social safety-net programs and interest payments far outstrip revenues held back by tax cuts.

The Treasury's latest daily cash and debt balances statement showed total public debt outstanding at $40.047 trillion on Tuesday, a total that includes Treasury securities held by the public of $32.266 trillion and intra-governmental debt holdings of $7.782 trillion.

The federal government's IOU has now more than doubled in less than a decade, from $19.95 trillion when US President Donald Trump was sworn in for the first time in January 2017.

Fresh warnings are sounding that a fiscal crisis is brewing.

US debt crosses $40 trillion threshold after doubling under Trump and Biden  Reuters