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US debt crosses $40T after doubling under Trump, Biden — sparking new warnings of fiscal crisis

Trump
New York Post Fews App News Provider
Fews App Post Time há 14h

Total US debt has topped $40 trillion for the first time, the Treasury Department said 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. The Treasury’s latest daily cash and debt balances statement showed total public debt outstanding at $40. 047 trillion on Tuesday, a total that includes Treasury securities held by the public of $32.

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