US national debt surpasses $40 trillion for first time

The US national debt surpassed $40 trillion for the first time on Tuesday, reaching $40.047 trillion according to Treasury Department data. The milestone figure comprises $32.266 trillion in debt held by the public and $7.782 trillion in intragovernmental holdings.

The total increased from $39.987 trillion recorded one day earlier. The liability has more than doubled since President Donald Trump took office in January 2017.

Trajectory across administrations

The debt reached $27.75 trillion by the end of Trump's first term and climbed to roughly $36.22 trillion during former President Joe Biden's presidency. Since Trump returned to the White House, the debt has increased by another $3.8 trillion.

Across Trump's two terms combined, debt rose by approximately $11.6 trillion, while Biden's administration added about $8.5 trillion. Both administrations relied on borrowing to finance budget shortfalls.

Fiscal pressures mount

Persistent budget deficits, pandemic-related borrowing, tax cuts, social program expenditures and rising interest costs have contributed to the increase. These factors continue to drive up the debt.

The milestone is expected to intensify scrutiny of US fiscal policy as debt-servicing costs consume an expanding portion of revenues. Treasury officials have not commented on specific measures to address the trajectory.