Total US debt exceeded $40 trillion for the first time, the Treasury Department said on Wednesday. The report cited ballooning costs for social safety-net programs and interest payments that are outpacing revenues held back by tax cuts.
WHO:U.S. Treasury Department
WHAT:Total US debt topped $40 trillion for the first time.
WHEN:Aug 19, 2026
WHERE:USA
WHY:Debt growth is being driven by ballooning costs for social safety-net programs and interest payments that outstrip revenues held back by tax cuts.
