US gross national debt tops $40tn for first time, likely to escalate fears of fiscal crisis
The US Department of the Treasury headquarters building in Washington DC on 27 May. Photograph: J David Ake/Getty ImagesView image in fullscreenThe US Department of the Treasury headquarters building in Washington DC on 27 May. “$40 trillion of debt doesn’t exist solely on the government’s ledgers; it is felt throughout the economy and finds its way to the pocketbooks of people one way or another.
- ▪The US Department of the Treasury headquarters building in Washington DC on 27 May.
- ▪Photograph: J David Ake/Getty ImagesView image in fullscreenThe US Department of the Treasury headquarters building in Washington DC on 27 May.
- ▪“$40 trillion of debt doesn’t exist solely on the government’s ledgers; it is felt throughout the economy and finds its way to the pocketbooks of people one way or another.
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| Original publisher | the Guardian |
| Canonical URL | https://www.theguardian.com/us-news/2026/aug/19/us-debt-40-trillion |
| Publication time | Wed, 19 Aug 2026 20:52:16 GMT |
| Retrieval time | 2026-08-20T03:03:02.631Z |
| Last seen | 2026-08-20T03:03:02.631Z |
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The US Department of the Treasury headquarters building in Washington DC on 27 May. Photograph: J David Ake/Getty ImagesView image in fullscreenThe US Department of the Treasury headquarters building in Washington DC on 27 May. Photograph: J David Ake/Getty ImagesUS debt ceilingUS gross national debt tops $40tn for first timeMilestone marks years of government spending that grew under both Donald Trump and Joe BidenLauren Aratani Wed 19 Aug 2026 17.24 EDTFirst published on Wed 19 Aug 2026 16.52 EDTSharePrefer the Guardian on GoogleUS debt reached $40tn for the first time on Wednesday, the US treasury department said, after the government deficit doubled over the last decade.The treasury’s latest debt balance showed $40.047tn on Tuesday afternoon, the highest in US history.The milestone…
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