Treasury secretary claims U.S. budget deficit has peaked as debt tops $40 trillion

Treasury Secretary Scott Bessent made the claim a day after the U.S. national debt crossed $40 trillion for the first time

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NBC News' Allie Canal and Sahil Kapur join Meet the Press NOW as the U.S. national debt tops a record-breaking $40 trillion. Ravi Agrawal, editor in chief of Foreign Policy, discusses President Trump's plans for an "Economic D-Day" for Iran. An NBC News focus group produced by Syracuse University and the research firms

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Treasury Secretary Scott Bessent said Thursday that there's a "very good chance" of the U.S. has seen its budget deficit peak under President Donald Trump.

Treasury Secretary Scott Bessent tried in vain to spin the country’s astronomical $40 trillion debt on CNBC Thursday. Speaking to the network’s Sara Eisen, Bessent admitted that he didn’t know when the Iran war would end, but that things were otherwise going well with the economy despite the soaring national debt and

America's national debt has surpassed 40 trillion dollars for the first time - more than double what it was just 10 years ago, according to data released by the US Treasury on Wednesday.

The Trump administration has sought to lower interest rates with rhetoric and repurchases.

The US gross national debt has surged past $40 trillion for the first time, government data showed Wednesday, outstripping earlier forecasts at a pace fuelled in part by President Donald Trump's invalidated tariffs. The uptick in borrowing is a blow to Trump, who promised to cut public spending during his 2024 presiden

The U.S. debt has surpassed $40 trillion. And, a new census report on noncitizen voting that President Trump is touting has ties to a think tank aligned with him, raising concerns among experts.

The US Treasury moved on Wednesday to calm a bond market rattled by surging borrowing costs, doubling the size of its debt buybacks hours before separate figures confirmed that the national debt had climbed past $40 trillion (€34.4tn) for the first time.

Gross federal debt now amounts to 124% of GDP, as the 30-year Treasury yield trades at its highest level in two decades

Gross federal debt now amounts to 124% of GDP, as the 30-year Treasury yield trades at its highest level in two decades

The data marks a staggering new milestone in the country’s borrowing.

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

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.

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

The majority of the public believes they are worse off financially than when President Donald Trump won a second term nearly two years ago, according to a new poll that painted an ominous picture of Republicans’ electability in the 2026 midterm elections. The Financial Times/Focaldata survey found that 53% of 2,152 res

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