U.S. Debt Hits $40 Trillion Milestone as Borrowing Accelerates

The U.S. national debt has surpassed $40 trillion, more than doubling since 2016, driven by ongoing deficits under two administrations and rising interest costs. The Congressional Budget Office projects debt could reach about $64 trillion by 2036, with debt-to-GDP around 126%. Bond yields have climbed, boosting borrowing costs, and the Treasury plans larger long-term debt buybacks to provide liquidity. The situation underscores daunting future interest payments and the potential for policy shocks if deficits persist.