US national debt passes $40tn after doubling in a decade
The US national debt has surpassed $40 trillion, doubling over the last decade due to increased government spending and rising interest rates. Experts warn that this trajectory could lead to significant economic instability if borrowing costs continue to climb.
Why it matters
The rapid accumulation of debt and the resulting interest burden pose long-term risks to the US economy and global financial stability.
Share Save Add as preferred on Google Michael Race and Francisco Velasquez , Business reporters, New York Getty Images US national debt has more than doubled in a decade to reach a milestone $40tn (£29.4tn), Treasury figures show.
The rise reflects years of heavy spending under both the Trump and Biden administrations, along with higher interest payments that have steadily added to the total. In 2016, the national debt stood at just under $20tn.
The Congressional Budget Office (CBO) had projected overall borrowing would reach $39.6tn by the end of fiscal year 2026 .
The faster-than-expected rise has sharpened concerns about how quickly the government's borrowing needs are growing and what that means for future interest costs.
The CBO said the US is nearing its $41.1tn debt ceiling, with debt projected to climb to about $64tn by 2036.
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