US National Debt Reaches $40 Trillion Milestone, New Sanctions Threatens Iran
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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. And because the US racks up tens of thousands of dollars of new debt every second, that number was outdated even as I typed it.
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Washington ExaminerEarlier this week, the Treasury Department announced the national debt had surpassed $40 trillion. Its chief, Bessent, said he believes the U.S. can grow its way out of the debt burden.
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How did the debt get so big? For years, the government has spent more money than it collects in taxes. Some of that has been driven by political choices — to wage war, cut taxes or provide a more generous social safety net during the pandemic. But much of the growth in spending happens automatically, as baby boomers age into retirement, resulting in higher costs for Social Security and Medicare.
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VoxOn some level, the steady ballooning of the national debt is basic math, familiar to anyone with a budget of their own. The government’s expenses — particularly the costs of Social Security and Medicare — are growing, while successive rounds of tax cuts have reduced the revenue available to cover them. As the government accumulates more debt, it also has to spend more just to cover the interest.
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Treasury Secretary Scott Bessent said Thursday the U.S. will impose the toughest sanctions in history on Iran, after President Trump promised to wage “Economic Warfare and Isolation on an unprecedented scale.” Bessent told CNBC that U.S. economic pressure would eliminate the need for return to direct combat with Iran. He said tough new sanctions would “collapse” Iran’s government, and warned other nations could face severe economic penalties if they continue to trade with Iran.
8 details only one outlet reported
Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.
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01 Washington Examiner Vice President JD Vance said Treasury Secretary Scott Bessent has a plan to address the nation’s roughly $40 trillion debt, arguing the administration can grow the economy faster than the debt accumulates.
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02 USA Today Money and personal finance reporter Medora Lee explains what economists are saying about the U.S. national debt's impact on everyday Americans.
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03 Vox This story appeared in Today, Explained, a daily newsletter that helps you understand the most compelling news and stories of the day. Subscribe here.
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04 NBC News Angie Nixon says Florida 'is not red, it just hasn't been invested in by Democrats': Full interview 12:07 'I am not running for president,' Attorney General Todd Blanche says at the Iowa State Fair 05:24 Now Playing 'Nothing has gotten better': Focus group shares affordability concerns as US debt 20:52 UP NEXT How Sen. Darline Graham’s debate blunder could give undecided voters ‘some pause’ 06:21 ‘Fed up with a war they didn't want’: Midwestern voters air frustrations impacting the midterms 05:33 Democratic candidate for FL governor says Trump is ‘promoting socialism’ as president 10:25 Diversity ‘strengthens us’: Democrat challenging Debbie Wasserman Schultz after GOP redistricting 08:26 Kornacki previews key Florida primaries after ‘dramatic’ redistricting 10:53 ‘Resign.
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05 HuffPost Joe Scarborough zoomed in on President Donald Trump when presented with a Treasury Department report that found the U.S. federal debt at a record-high $40 trillion.
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06 NPR News The Treasury Department reported this week that the U.S. federal debt had reached $40 trillion, an eye-popping level of red ink. Just the annual interest on that accumulated debt now tops a trillion dollars, making it the government's second-biggest expense, behind only Social Security.
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07 National Review America’s $40 Trillion Nightmare The nation’s finances hit a grim milestone.
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08 Democracy Now Treasury Secretary Scott Bessent: “We are going to all of our allies, and this is going to be the greatest coordinated economic isolation in the history of the world. And we are going to them and saying, 'You are either with us or against us.'”
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- huffpost
- npr
- democracynow
- nationalreview
- usatoday
- nbc
- washexaminer
- vox