U.S. debt tops $40 trillion. And, new census report Trump is touting raises concerns

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 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 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.

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.

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.

Fresh warnings are sounding that a fiscal crisis is brewing.

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.

As the oil price spiked higher, yields on 30-year UK bonds, known as gilts, soared above 5.85%, just short of 28-year highs seen earlier this year.

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

British house prices expected to fall this year, despite ‘Burnham bounce’, Rightmove reports Asking prices for newly listed homes in UK’s richest borough fall by £100k in one month JP Morgan boss Jamie Dimon warns UK chancellor not to hike taxes on banks Back in the markets, the pound has hit a three-month high agai