US national debt passes record $40 trillion

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