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Economy — Business

US National Debt Surpasses $40 Trillion For First Time

The debt has roughly doubled from about $19.95 trillion in 2017, with both the Trump and Biden administrations overseeing significant increases.

,   and  TIPP Staff
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US debt crosses $40 trillion threshold after doubling under Trump and Biden. Pic via(@ReutersLegal)

The U.S. national debt has surpassed $40 trillion for the first time, highlighting the rapid growth of federal borrowing over the past decade.

The debt has roughly doubled from about $19.95 trillion in 2017, with both the Trump and Biden administrations overseeing significant increases.

According to the report, Trump’s terms have added an estimated $11.6 trillion to the debt, while Biden’s presidency added about $8.4 trillion. Pandemic-related spending and persistent budget deficits have contributed significantly to the increase.

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Rising interest payments are placing additional pressure on federal finances and now exceed Medicare spending. Social Security and healthcare costs are also contributing to growing budget demands.

Economists and fiscal watchdogs have warned that continued deficits could increase financial risks. At the same time, weaker demand for U.S. government bonds and elevated long-term Treasury yields are raising concerns about the sustainability of the country’s fiscal position.

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tippinsightsPower & Capital Desk

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