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US gross national debt tops $40tn for first time
Milestone marks years of government spending that grew under both Donald Trump and Joe Biden US debt reached $40tn for the first time on Wednesday, the US treasury department said, after the government deficit doubled over the last decade.
AI Summary
US Treasury officials reported that the nation’s gross national debt surpassed $40 trillion on Wednesday, marking the first time it has reached that level. The increase reflects a doubling of the federal deficit over the past ten years, a trend that has continued under the administrations of both Donald Trump and Joe Biden. The milestone underscores the cumulative effect of sustained government spending.
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