US National Debt Passes $40 Trillion for the First Time
Aug 21, 2026
The United States' total federal debt has passed 40 trillion dollars for the first time, deepening concerns about a fiscal crisis as government spending continues to outpace revenue. According to Al Jazeera, published Thursday, August 20, 2026 (29 Mordad 1405), the debt stood at 19.95 trillion dollars in January 2017, when Donald Trump was sworn in for his first term, and has more than doubled since then.
According to the report, heavy borrowing, increased spending, and tax cuts under both Democratic and Republican administrations have long raised concerns about US fiscal sustainability. The debt milestone comes as long term US Treasury yields have been rising and US Iran tensions intensify, factors that market analysts say have helped support demand for gold as a safe haven asset.
Source
Al Jazeera
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