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United States national debt surpasses $40 trillion milestone FAST-MOVING
The United States national debt has surpassed the $40 trillion milestone for the first time in history. According to the Treasury Department, the total debt reached approximately $40.05 trillion, a significant increase that reflects decades of accumulated deficits and rapid borrowing. The debt has grown by one-third in less than five years, having crossed the $30 trillion mark in early 2022.
In response to rising borrowing costs and market volatility, Treasury Secretary Scott Bessent announced an expansion of the long-term bond buyback program. This initiative aims to support liquidity by increasing some transaction sizes to at least $4 billion. The announcement follows a period of high interest rates, including a 30-year bond auction in August that settled at 5.216%, the highest level since 2001.
Fiscal pressures are compounded by rising interest payments, which have reached $1.17 trillion, making them one of the largest items in the federal budget. Factors contributing to the debt surge include pandemic-era spending, infrastructure investments, and recent legal rulings that invalidated certain customs duties, reducing federal revenue. The nation is now approaching its legal debt ceiling, which is set at $41.1 trillion.
Entities
Congressional Budget Office · Donald Trump · Joe Biden · Scott Bessent · Supreme Court of the United States · United States · United States Department of the Treasury · United States Treasury Department
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Accumulated interest payments have reached $1.17 trillion. www.cubaheadlines.com
- [○ 1 SOURCE] The legal debt ceiling is set at $41.1 trillion. www.cubaheadlines.com
- [● 2 SOURCES] Treasury Secretary Scott Bessent announced an expansion of the long-term bond buyback program. www.cubaheadlines.com · www.watoday.com.au
- [○ 1 SOURCE] The 10-year bond auction recorded its highest financing cost since 2007. www.cubaheadlines.com
- [● 2 SOURCES] The United States national debt reached $40.05 trillion. www.cubaheadlines.com · www.acessa.com
- [○ 1 SOURCE] The bond buyback program will increase some transaction sizes to at least $4 billion. www.cubaheadlines.com
- [DISPUTED] The 30-year bond auction on August 13 settled at 5.216%. www.cubaheadlines.com
- [● 2 SOURCES] The US national debt has increased by one-third in less than five years. www.cubaheadlines.com · www.watoday.com.au