The U.S. debt tops a record-shattering $40 trillion. Yes, with a T.

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 for everyone else.

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. Kevin Lamarque | ReutersGovernment debt has eclipsed $40 trillion, passing yet another staggering benchmark for red ink, according to the Treasury Department. The total U.S. IOU hit $40.05 tril

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

Federal debt has mounted amid tax cuts and trillions in pandemic spending, adding to the nation's interest payments.