U.S. Debt Hits $40 Trillion as America’s Borrowing Binge Continues

The surprising way that America’s $40 trillion debt costs you

This story appeared in Today, Explained, a daily newsletter that helps you understand the most compelling news and stories of the day. Subscribe here. America’s national debt cleared $40 trillion for the first time ever on Wednesday, a number so comically large as to feel imaginary. Seriously — look at it in all of its comma-strewn glory: $40,203,821,194,241. […]

Aug 20, 2026

U.S. Debt Hits $40 Trillion as America’s Borrowing Binge Continues

President Trump’s promises to restore fiscal order and reduce the amount of America’s debt burden have been hampered by spending on the Iran war, tax cuts and tariff refunds.

Aug 19, 2026

Here's how America's $40 trillion debt can hit your wallet

The U.S. national debt this week topped $40 trillion, raising fresh concerns about how rising federal borrowing could affect Americans' finances. Why it matters: Americans don't personally owe the national debt, but rising debt could pressure lawmakers to raise taxes, cut spending or change federal benefits. State of play: The gross federal debt hit $40 trillion for the first time on Wednesday. That figure includes debt the government owes itself. Economists usually focus on the roughly $32 tril

Aug 20, 2026