US debt breaches $40 trillion as deficits and yields surge
TL;DR Summary
US government debt climbed to $40.05 trillion with a July deficit of $432.3 billion—the highest monthly shortfall in over five years—as borrowing costs rise and the public debt share nears 100%, driven by pandemic-era stimulus and ongoing deficits, with debt service approaching $1.2 trillion this year.
- U.S. government debt passes $40 trillion mark for the first time CNBC
- U.S. Debt Hits $40 Trillion as America’s Borrowing Binge Continues The New York Times
- U.S. debt crosses $40 trillion threshold after doubling under Trump and Biden NBC News
- US gross national debt tops $40tn for first time, likely to escalate fears of fiscal crisis The Guardian
- The U.S. debt tops a record-shattering $40 trillion. Yes, with a T. NPR
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