The US gross national debt has surpassed $40 trillion for the first time, according to official data released on Wednesday, outpacing previous estimates at a rate fueled in part by President Donald Trump’s proposed tariffs. The increase in borrowing is a setback to Trump, who promised to reduce public expenditure during his 2024 presidential campaign, and has provoked criticism from US legislators across the political spectrum.
The new record comes as the United States’ longer-term obligations for social security and health care have increased, as have interest payments. According to data issued by the Treasury Department on Wednesday, the total outstanding public debt was $40.05 trillion as of Tuesday’s close.
That exceeds the Congressional Budget Office’s earlier prediction that total borrowing would reach $39.4 trillion by the end of fiscal year 2026. Rising US debt coincides with investor fears about inflation and government spending, as well as rising borrowing costs.
The Middle East war has also put pressure on Trump, costing the lives of 18 American service members and $37.5 billion in military spending as the almost six-month-old fight continues with little indication of ending.
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