America’s debt mountain has just crossed another eye-watering milestone: $40 trillion.
Treasury figures show the national debt has more than doubled in a decade, rising from just under $20 trillion in 2016.
So, what’s driving the surge?Years of heavy government spending under both Donald Trump and Joe Biden have played a major role.
While rising interest costs are adding even more weight.
The Congressional Budget Office had expected debt to reach about $39.6 trillion by the end of fiscal 2026, but the total has already passed that mark.
It could climb to roughly $64 trillion by 2036.
And the consequences aren’t confined to Washington.
Burden Raises Alarm
Higher Treasury yields influence mortgages, car loans and credit cards, while inflation and uncertainty can make borrowing even more expensive.
Economics professor David Jacks warned that the pace of borrowing is accelerating and that “at some point, the bills will come due.”
The government is now trying to ease pressure by doubling Treasury buybacks to $4 billion.
But analysts say that is unlikely to provide lasting relief given the sheer size of the debt.
With US debt already equal to about 126% of GDP, the uncomfortable question is becoming harder to avoid.
How much more can America borrow before the interest bill becomes the real problem?
