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National debt crosses $40 trillion in grim milestone

Washington Examiner · back to the audit

National debt crosses $40 trillion in grim milestone

The national debt exceeded $40 trillion for the first time in history, leading economists to warn that the United States is staring down a fiscal reckoning.

The Treasury Department reported on Wednesday that the debt crossed the $40 trillion mark the day before.

The government has been running budget deficits for years, and for the first five months of fiscal 2026, the federal budget deficit totaled just about $1 trillion, according to the Congressional Budget Office. The deficit is the difference between spending and revenues for one year. The debt reflects accrued deficits.