20-August-2026
Economy News
 
US debt crosses $40 trillion threshold after doubling under Trump and Biden
20-Aug-2026

Total U.S. debt has topped $40 trillion for the first time, the Treasury Department said on Wednesday, drawing fresh warnings that a fiscal crisis is brewing as ballooning costs for social safety-net programs and interest payments far outstrip revenues held back by tax cuts.

News Source:- https://economictimes.indiatimes.com/news/international/world-news/us-debt-crosses-40-trillion-threshold-after-doubling-under-trump-and-biden/articleshow/133361360.cms