The U.S. national debt crosses $40.047 trillion...

The U.S. national debt crosses $40.047 trillion, reaching the milestone two years earlier than earlier CBO projections. The debt includes about $32.266 trillion held by the public and $7.782 trillion in intragovernmental holdings. Rising interest rates push annual debt-servicing costs above $1 trillion, making interest one of the largest federal budget items. The surge reflects years of tax cuts, pandemic spending, infrastructure programmes, military costs, and widening deficits. Analysts warn the trend may raise borrowing costs, crowd out investment, and reduce fiscal flexibility.

Wednesday, 19 August, 2026