US national debt passes record $40 trillion

What the report says

The United States’ gross national debt has crossed $40 trillion for the first time, according to Treasury Department data reported by Al Jazeera. The milestone comes as Washington faces growing concern that spending is continuing to outpace revenue, and it marks a sharp rise from the roughly $19.95 trillion debt level at the start of Donald Trump’s first presidency in January 2017.

Al Jazeera reported that the debt has roughly doubled over the past decade, with large increases occurring during the COVID-19 pandemic under both Trump and President Joe Biden. The article said the debt has grown by $11.6 trillion across Trump’s two terms so far, including $3.8 trillion since he returned to office in January 2025. It also noted that Biden-era borrowing rose by $8.4 trillion, driven by pandemic recovery spending and other federal priorities.

The report highlighted concern among fiscal analysts that the federal budget structure makes debt harder to rein in, because most spending is tied to mandatory programs such as Social Security, Medicare, Medicaid and veterans’ care, while interest payments on borrowing are also rising. Al Jazeera cited Treasury data showing a large July deficit and described interest costs as one of the fastest-growing federal expenses.

The $40 trillion figure underscores a broader debate in the US over deficits, borrowing and long-term fiscal sustainability. In general background, analysts often watch debt levels because they can influence borrowing costs, government flexibility and broader economic confidence, although the article did not say a crisis is imminent.