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U.S. federal debt tops $40 trillion as deficits widen
Treasury data show debt above $40 trillion, while the CBO projects a 2026 deficit near $1.9 trillion and interest costs at more than $1 trillion.
The U.S. federal debt has surpassed $40 trillion, according to the latest data from the Treasury, putting the figure at more than $359,000 per taxpayer, based on the article’s calculations.
The piece highlights that the largest budget items are Medicare and Medicaid combined at nearly $2 trillion, Social Security at over $1.6 trillion, national defense at $946 billion, and interest on the debt at more than $1 trillion.
For fiscal year 2026, the Congressional Budget Office projects revenue of $5.6 trillion against spending of about $7.4 trillion, implying a deficit of roughly $1.9 trillion.
Yahoo Finance also notes that higher Treasury issuance can push bond yields upward, which then serves as a benchmark for other interest rates, raising borrowing costs for consumers, and it cites warnings that any future shift in demand for U.S. government debt could force the Treasury to pay higher rates to attract investors.