The total U.S. public debt has exceeded $40 trillion for the first time, the Treasury Department announced late Wednesday.
The U.S. Treasury Department announced Wednesday night that the total public debt has crossed $40 trillion for the first time in history. The milestone marks the latest reading in a period of rapid fiscal expansion. The national debt stood at $39.5 trillion on July 17 and had climbed to $39.95 trillion by August 10, according to prior Zioneer reports. That earlier reporting noted the debt grew by $450 billion in the six weeks after July 1, indicating an acceleration in borrowing. As The Zioneer reported on July 17, the debt surge has been driven in part by the U.S. military campaign against Iran and broader economic pressures. The $40 trillion threshold underscores the enormous scale of U.S. government borrowing.
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