U.S. national debt hits record $40 trillion, more than doubling in less than 10 years

America's national debt has climbed to $40 trillion after years of borrowing. CBS News chief White House correspondent Nancy Cordes reports on the Trump administration's response.

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

The United States’ debt has surpassed a record $40 trillion, a staggering milestone as defense costs, social programs and interest on the burgeoning deficit make up an enormous share of federal spending

"Addressing the national debt deserves to be a high priority for both voters and lawmakers, to benefit all Americans."

The United States’ debt has surpassed a record $40 trillion, a staggering milestone as defense costs, social programs and interest on the burgeoning deficit make up an enormous share of federal spending

The national debt hit yet another record on Wednesday, and political leaders mostly yawned. It wasn’t always this way. Deficits and debt were among the driving issues of the 1992 presidential campaign, nearly upending national politics. Paul Tsongas, the former liberal senator from Massachusetts, ran for the Democratic

Heavy borrowing, increased spending and tax cuts by Democratic and Republican administrations have long raised concern.

The national debt hits $40 trillion with no slowing down in sight.

US national debt hits $40 trillion, Trump picks Dr. Heidi Overton to lead FDA  AP News

THE United States national debt has topped $40 trillion (around £30trn) for the first time in history, according to data released by the US Treasury Department on Wednesday. The data shows that debt held by the public and intragovernmental holdings stood at $32.266trn (around £24trn) and $7.782 trillion (about £5.7trn)

Overall US debt has doubled in a decade since Trump was first elected

Attacking the US Federal Reserve, Trump accused Fed officials of having political motives. However, Trump excluded Chairman Kevin Warsh.

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.

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

Also, Trump nominates a Kennedy ally to lead the F.D.A. Here’s the latest at the end of Wednesday.

Fresh warnings are sounding that a fiscal crisis is brewing.

Total US public debt surpassed US$40 trillion for the first time, and has now surged by a third in less than five years, as US lawmakers continue to shrug off calls to contend with historically wide financial deficits. Public debt outstanding stood at US$40.05 trillion as of the close of business on Tuesday, a US Treas

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

The national debt is expected to hit a record high as soon as this week, crossing a major threshold of $40 trillion. Congressional correspondent Lisa Desjardins explains why that milestone is a warning sign for many economists.