U.S. Debt Tops $40T

The Treasury Department’s daily statement showed total U.S. government debt at $40,047,425,768,420.22, crossing $40 trillion for the first time. The total includes $32.26 trillion held by the public and $7.78 trillion in intragovernmental holdings. The debt has more than doubled since it first crossed $20 trillion in late 2017 and rose by about $1 trillion after reaching $39 trillion in March. Rising interest costs are now among the largest federal spending categories, alongside Social Security, Medicare and defense.