BREAKING: U.S. national debt surpassed $40 trillion, according to Treasury Department data released Wednesday, marking a major fiscal milestone and highlighting the federal government’s mounting borrowing and interest costs.
The Treasury Department's daily financial report shows that the nation's debt reached $40.05 trillion on August 18, more than double its level in 2017.
The federal debt has ballooned because government spending is outstripping revenue, forcing the U.S. to borrow more money to cover the shortfall.$RE
The Treasury Department's daily financial report shows that the nation's debt reached $40.05 trillion on August 18, more than double its level in 2017.
The federal debt has ballooned because government spending is outstripping revenue, forcing the U.S. to borrow more money to cover the shortfall.$RE