US debt tops $40 trillion - $20 trillion since Trump first took office

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 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.

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