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US national debt tops $40 trillion for first time, dealing blow to Trump

US national debt tops $40 trillion for first time, dealing blow to Trump
France 24 Thursday 20 August 2026, 13:28 UTC By FRANCE24 1 min read
Key Points

The US gross national debt has surged past $40 trillion for the first time, government data showed Wednesday, outstripping earlier forecasts at a pace fuelled in part by President Donald Trump's invalidated tariffs. The uptick in borrowing is a blow to Trump, who promised to cut public spending during his 2024 presidential campaign, and sparked a backlash from US representatives across the political field.

The US gross national debt has surged past $40 trillion for the first time, government data showed Wednesday, outstripping earlier forecasts at a pace fuelled in part by President Donald Trump's invalidated tariffs. The uptick in borrowing is a blow to Trump, who promised to cut public spending during his 2024 presidential campaign, and sparked a backlash from US representatives across the political field. [Image text:] PETERG. PETERSON FOUNDATION PGPFORG PETERG. PETERSON FOUNDATION PGPF.ORG PETERG. PETERSON FOUNDATION PGPF.ORG PETER G. PETERSON FOUNDATION PGPFORG PETERG. PETERSON FOUNDATION PGPF.ORG PETER-G PE" FO PG PGPF.ORG PETER G PETERSON FOUNDATION FORG G. RSON ITION
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