US federal debt passed the $40 trillion mark for the first time on 18 August 2026, reaching $40.047 trillion according to the Treasury, of which $32.266 trillion is held by the public. It has more than doubled since January 2017. Net interest payments approached $1 trillion in 2025, about 14% of federal spending, and the 30-year Treasury yield touched 5.33%, its highest in nineteen years. Donald Trump is pressing the Federal Reserve to cut rates.
From $19.95 trillion in January 2017 to more than $40 trillion today, across two successive presidencies.
About $1.2 trillion in interest since January, more than the entire military budget.
France's 10-year yield has passed 4.10%, its highest since November 2008.
The CBO had projected $39.4 trillion: the threshold arrived sooner than expected.
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