WASHINGTON: The United States has crossed a historic financial milestone, with its total national debt surpassing $40 trillion for the first time, according to the latest figures from the U.S. Treasury Department.

Treasury data showed that the total U.S. national debt reached approximately $40.047 trillion on August 18, 2026. Of this amount, around $32.266 trillion was debt held by the public and other entities, while approximately $7.782 trillion was intragovernmental debt.

The milestone highlights the extraordinary growth of U.S. government borrowing over the past decade. The national debt has roughly doubled since January 2017, when it stood at around $19.95 trillion.

Economists point to several factors behind the increase, including large government spending during the COVID-19 pandemic, persistent federal budget deficits, rising defense and social program costs, and the growing interest bill on existing debt.

Interest payments have become one of the most significant expenses for the U.S. government, with annual interest costs expected to remain above $1 trillion. Rising debt-service costs are adding further pressure to the federal budget.

The growing debt burden has also renewed concerns about the long-term health of the U.S. economy. Economists warn that if the gap between government spending and revenue remains large, increasing debt could eventually put pressure on interest rates, private investment and borrowing costs for households and businesses.

The $40 trillion milestone is not the result of a single administration. U.S. debt has increased under successive presidents as the government has continued to run substantial budget deficits.

The key question now is how Washington will manage the country’s rapidly growing debt while maintaining economic growth and funding major government programs.

The historic figure has once again placed America’s fiscal position at the center of political and economic debate.