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The total US government debt surpassed $40 trillion for the first time on August 18, 2026, reaching $40.047 trillion, more than doubling compared to approximately $19.95 trillion at the start of Trump's presidency in 2017. The debts have doubled during the administrations of Trump and Biden, with an increase of $11.6 trillion since 2017. The biggest surges are attributed to the COVID-19 pandemic, which caused the deficit to soar to very high levels, with the budget deficit reaching $3.1 trillion in 2020. Rising debt levels and increasing interest rates have led to higher interest payments, amounting to $963 billion in 2026, surpassing military spending. Financial experts are raising alarms about the sustainability of this situation, with projections indicating that the deficit could reach $2.1 trillion in 2026, and public debt could rise to 120% of GDP by 2036.
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