Trump Treasury Secretary Flails as National Debt Passes $40 Trillion

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

The gross public debt of the United States reached 40.047 trillion dollars on Tuesday, according to data released by the Treasury Department. It is the first time the figure has crossed that threshold, and it has arrived earlier than expected: the Congressional Budget Office had projected 39.4 trillion by the end of fi

The amount has doubled in the last decade, from Trump's first term through the Biden administration.

It comes after the interest rate on 30-year bonds reached the highest level in almost 20 years.

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