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Topic: debt-limit

The U.S. Treasury Department building in Washington, D.C.
Economy
Wednesday, 8/19, 09:41 PM

The U.S. national debt passes $40 trillion for the first time

  • The federal government's total debt reached $40.05 trillion this week, the Treasury Department reported, just five months after crossing $39 trillion.
  • The pace of borrowing is what makes the milestone matter: a decade ago the figure was $19.4 trillion, and the next fight over the $41.1 trillion debt limit is already coming into view.

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