World
US national debt exceeds $40 trillion
The Treasury's daily statement showed total debt outstanding reached $40.047 trillion, comprising $32.266 trillion in debt held by the public and $7.782 trillion in intragovernmental holdings held by federal agencies.
President Donald Trump speaks during a meeting with technology leaders in the Roosevelt Room of the White House, Wednesday. Picture credit: AP
Washington: The United States Department of the Treasury announced that total US national debt has surpassed the $40 trillion mark for the first time, driven by rising costs for entitlement programmes and interest payments alongside falling revenues.
The Treasury's daily statement showed total debt outstanding reached $40.047 trillion, comprising $32.266 trillion in debt held by the public and $7.782 trillion in intragovernmental holdings held by federal agencies.