US hits $40 trillion debt milestone as interest costs surge
TL;DR
The United States has reached a $40 trillion gross national debt for the first time, propelled by persistent deficits and rising interest costs, with most debt held domestically but a growing share owned by foreign investors. Analysts warn higher borrowing costs could fuel inflation and squeeze other priorities, while IMF and CBO projections indicate the debt burden will continue to rise in the coming years.
- How did US debt approach $40 trillion — and who pays for it? Euronews.com
- As debt surpasses $40 trillion, the bill for Washington spending comes due The Washington Post
- Opinion | $40 Trillion Debt? The Ancient Sumerians Wouldn’t Have Cared. The New York Times
- Vance: Bessent has ‘very discreet plan’ to shrink $40 trillion national debt The Hill
- Bessent says there's a 'very good chance' U.S. budget deficit under Trump has peaked CNBC
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