US national debt crosses $40 trillion mark after more than doubling in only a decade

‘It is staggering how predictable the fiscal decline of a global power can become,’ the president of the Committee for a Responsible Federal Budget said

The U.S. national debt crossed $40 trillion on Tuesday, according to newly released data from the Treasury Department.   It marks a key milestone for the U.S., which has seen its total outstanding debt double over less than a decade. This sum first crossed the $20 trillion mark in late 2017 and reached $39 trillion jus

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

"To anyone who cares about America, about democracy and our future, in my view, this is already a crisis," Michael Peterson told Fortune.

The country’s national debt is now over $40 trillion for the first time in history, leading economists to warn that the United States is staring down a fiscal reckoning. The Treasury Department reported on Wednesday that the debt crossed the $40 trillion mark the day before. Concerningly, the government has been runnin