US National Debt Exceeds $40 Trillion for First Time

At a glance

US national debt has surpassed $40 trillion for the first time.
The debt has doubled since 2017, according to the US Treasury.
Debt increased by $11.6 trillion under President Trump and $8.4 trillion under former President Biden.

Story so far

The United States' national public debt has crossed the $40 trillion mark for the first time, according to the US Treasury Department. The debt has seen a significant increase in recent years, doubling since 2017 when it stood at $19.95 trillion. Reports indicate the debt grew by $11.6 trillion during President Donald Trump's two terms and by $8.4 trillion during former President Joe Biden's four-year term. Factors contributing to the rising debt include tax cuts reducing government revenue, alongside increasing social welfare expenditures and interest payments.

Latest development

The US national debt has exceeded $40 trillion for the first time, data from the US Treasury Department shows. The figure has doubled since 2017.

Sources and updates

Geo News - Youtube

US Debt Hits $40 Trillion | What Does This Mean for the American Economy?

Dawn News - Youtube