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The U.S. Department of the Treasury announced that the federal debt has surpassed $40 trillion for the first time in history, as warnings grow over escalating fiscal pressures driven by rising Social Security costs and mounting interest payments.
According to the Treasury’s latest daily statement of cash and debt balances, total public debt reached $40.047 trillion on Tuesday, crossing the $40 trillion threshold for the first time in United States history.
Treasury figures show that this total includes $32.266 trillion in debt held by the public, alongside $7.782 trillion in intragovernmental holdings held by federal agencies and entities.
The milestone means U.S. federal debt has more than doubled in less than a decade, rising from $19.95 trillion when Donald Trump took office for his first presidential term in January 2017.
Approximately one-third of this increase occurred during two years of heavy government borrowing to fund COVID-19 pandemic response measures under both President Trump and former President Joe Biden. The remaining growth stems from fiscal policies enacted under both administrations, compounded by chronic imbalances between federal revenues and spending.
Since Trump returned to the White House for a second term in January 2025, the national debt has grown by roughly $3.8 trillion, bringing the total increase across his two presidential terms to approximately $11.6 trillion.
The Committee for a Responsible Federal Budget, a nonpartisan organization, estimates that fiscal policies adopted by both Trump and Biden have pushed the trajectory of the federal debt significantly higher than it would have been under tax and spending laws in place when each took office.
