U.S. National Debt Surpasses $40 Trillion for First Time
On August 19, 2026, the U.S. national debt exceeded $40 trillion for the first time, more than doubling in a decade from $19.4 trillion. Driven by pandemic stimulus, tax cuts, rising health and social security costs, and interest payments nearing $1.2 trillion annually, the debt now represents nearly 125% of GDP. The milestone has raised concerns about fiscal sustainability, higher borrowing costs, and potential future crises, with the Treasury announcing increased long-term bond buybacks to manage yields.