U.S. national debt has topped US$40 trillion for the first time

The Independent: US national debt more than doubling in only a decade.

The United States has never owed so much money.

On Tuesday, the debt surpassed the US$40 trillion (CA$55 trillion) mark, according to the Treasury Department, reports Jesús Sérvulo González of EL PAÍS.

The figure comes amid growing concerns about rising financing costs for the economy, with 30-year bond yields hitting highs not seen in nearly two decades. The yield on those long-term securities has climbed to 5.3%, the highest level since 2007, driven by doubts that the Trump administration can rein in inflation and curb the public deficit, as well as the frenzy around artificial intelligence (AI), which is prompting big tech companies to take on more debt.

The budget deficit has worsened since Trump returned to the Oval Office.

Elsewhere:

Reuters via The Japan Times: U.S. debt exceeds $40 trillion for first time amid warnings of fiscal crisis

France 24 / AFP: “fuelled in part by President Donald Trump’s invalidated tariffs. The uptick in borrowing comes as longer-term US obligations linked to social security and health care have been growing, while interest payments have climbed as well.”

NY Times: This year alone, the United States is on track to borrow more than $2 trillion to help pay for its obligations, including spending on the war in Iran and the sweeping tax cuts that Republicans enacted in 2025. Soaring interest payments to investors who have purchased America’s debt now make up about half of that red ink, pushing the United States into a deeper financial hole.