{"id":8513,"date":"2026-08-19T20:12:57","date_gmt":"2026-08-19T20:12:57","guid":{"rendered":"https:\/\/bestusamoverss.com\/?p=8513"},"modified":"2026-08-19T20:12:57","modified_gmt":"2026-08-19T20:12:57","slug":"the-u-s-debt-tops-a-record-shattering-40-trillion-yes-with-a-t","status":"publish","type":"post","link":"https:\/\/bestusamoverss.com\/?p=8513","title":{"rendered":"The U.S. debt tops a record-shattering $40 trillion. Yes, with a T."},"content":{"rendered":"
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The federal debt topped $40 trillion Wednesday, a new high-water mark for red ink that shows no sign of receding. <\/p>

Read more In new filings, Kennedy Center says it won\u2019t try to put Trump\u2019s name on facade until Sept. 8<\/a><\/p>

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Politics <\/h3>\n

‘Congress is in a coma’: Former members sound alarm on health of the House<\/h3>\n<\/div>\n\n<\/div>\n\n<\/div>\n\n

The news, reported by the Treasury Department in its daily financial update, comes just five months after the debt surpassed $39 trillion. The government continues to pile up debt at a rapid clip, as spending outstrips revenue by more than $2 trillion a year. <\/p>

“Our current fiscal trajectory is plainly unsustainable, and that’s the best-case scenario,” said Margaret Spellings, president of the Bipartisan Policy Center. “Even in the rosiest scenarios, we’re speeding toward a cliff and refusing to turn the wheel.”<\/p>

The deficit widened further after the Supreme Court struck down many of President Trump’s tariffs, forcing the Treasury to refund more than $100 billion in import taxes that were collected illegally. <\/p>\n

Government spending continues to surge<\/h3>

The administration sought to blame the ballooning deficit on Democrats. <\/p>

“President Trump pledged to clean up Joe Biden’s fiscal mismanagement,” White House spokesman Kush Desai said in a statement. “That’s why the Trump administration has been focused on slashing waste, fraud, and abuse in federal spending while accelerating economic growth to get America’s debt-to-GDP ratio trending in the right direction again.”<\/p>

Government revenues have grown 3% this fiscal year \u2014 but spending has grown even faster. And the debt-to-GDP ratio has worsened since Trump returned to the White House. <\/p>

The government is spending more than a trillion dollars a year just to pay interest on the mounting debt. Interest is now the government’s second biggest expense, trailing only Social Security.<\/p>

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Interest costs in the first ten months of this fiscal year were 15% higher than they were in the same period a year ago. That reflects not only the growing debt but also the higher interest rates that investors are now demanding in order to keep lending the government money. <\/p>

Bond markets are reacting<\/h3>

The yield on 30-year Treasuries reached a 19-year high this week. That raises borrowing costs for everyone else, since mortgage rates and other interest rates often follow long-term Treasuries. <\/p>\n\n

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\"In<\/figure>\n<\/figure>\n
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Politics <\/h3>\n

Why Congress rarely pushes back when presidents deploy military force<\/h3>\n<\/div>\n\n<\/div>\n\n<\/div>\n\n

The average rate on a 30-year mortgage neared 6.7% last week, according to Freddie Mac. <\/p>

“Federal debt is already raising the cost of living and choking out other spending and investment, threatening our economy and Americans’ long-term prosperity,” Spellings said. <\/p>

So far, Congress has shown little appetite for tacking the problem. <\/p>

“$40 trillion should be a wake up call. But neither Congress nor the president have a credible plan to stop it from growing,” said Carolyn Bourdeaux, executive director of Concord Action, a group that advocates for fiscal responsibility. “We owe the next generation better than this crushing debt and another hollow promise that someone else will deal with it later.”<\/p>

Read more Real-world study of Oregon\u2019s nonmedical psilocybin program shows promise<\/a><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

The federal debt reached $40 trillion as the government adds red ink at a rapid rate. That’s leading nervous investors to demand higher interest rates \u2014pushing up borrowing costs for everyone else.<\/p>\n","protected":false},"author":1,"featured_media":8512,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-8513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"yoast_head":"\nThe U.S. debt tops a record-shattering $40 trillion. 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