US EditionUS national debt surges past $39 trillion just weeks into war in Iran
The debt surged past $39 trillion due to war spending in Iran and rising interest costs, with interest payments projected to reach nearly $100 trillion over 30 years, experts say.
- On Tuesday, the United States national debt crossed $39 trillion for the first time, a milestone confirmed in Wednesday’s Daily Treasury Statement and called 'staggering' by Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
- The rapid run-up reflects wars, pandemic spending and tax cuts, with federal debt surging from $37 trillion to $38 trillion to $39 trillion in months, watchdogs say.
- Net interest payments rose sharply, hitting $12 billion in the first quarter and are projected to exceed $1 trillion in fiscal year 2026, with nearly $100 trillion over 30 years.
- The Government Accountability Office warns rising debt raises borrowing costs, lowers wages and makes goods more expensive, while a Peterson Foundation survey finds nine in 10 Americans blame it for higher living costs.
- Without major policy changes, analysts say debt may become unmanageable in roughly 20 years, with the Penn Wharton Budget Model putting the fiscal gap near $100 trillion.
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The perfect storm of conditions pushing national debt toward $40T
The National Debt surpassed $39 trillion this week, joining a growing list of trillion-dollar milestones that have come at an exponential rate. And while the rate at which the debt grows ebbs and flows with the political climate, the past year of growth is unlike anything the U.S. has seen in recent history, with the debt rising by roughly $1 trillion every five months. The national debt, which began at $75 million in 1791 to fund the Revolution…
US debt surpasses $39 trillion, adding $1 trillion in 5 months
The U.S. national debt crossed a new milestone Wednesday, surpassing $39 trillion, a record reached five months after the debt sailed past the $38 trillion mark. The record-breaking amount was revealed in a daily statement from the Treasury Department. It comes amid the weeks-long U.S.-Israeli conflict with Iran, which will add to the toll. Michael...
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US national debt surges past record $39 trillion just weeks into war in Iran
The Government Accountability Office says rising debt can raise borrowing costs for mortgages and cars. It can also squeeze wages and push up prices.
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