US national debt passes $40tn

The US national debt has passed $40tn, a decade-long milestone, as the country continues to struggle with high borrowing costs and inflation concerns.

US national debt has more than doubled in a decade to reach a milestone $40tn (£29.4tn), according to figures released by the Treasury Department on Wednesday.

The rise reflects years of heavy spending under both the Trump and Biden administrations, along with higher interest payments that have added to the total.

Interest rates on 30-year bonds had risen to around 5.27% earlier this week, but economists say the surprise move by the US government has proved short-lived.

The US national debt has passed $40tn, a decade-long milestone, as the country continues to struggle with high borrowing costs and inflation concerns.

US national debt has more than doubled in a decade to reach a milestone $40tn (£29.4tn), according to figures released by the Treasury Department on Wednesday.

The rise reflects years of heavy spending under both the Trump and Biden administrations, along with higher interest payments that have added to the total.

Interest rates on 30-year bonds had risen to around 5.27% earlier this week, but economists say the surprise move by the US government has proved short-lived.

The US national debt has passed $40tn, a decade-long milestone, as the country continues to struggle with high borrowing costs and inflation concerns.

Interest rates on 30-year bonds had risen to around 5.27% earlier this week, but economists say the surprise move by the US government has proved short-lived.

The rise reflects years of heavy spending under both the Trump and Biden administrations, along with higher interest payments that have added to the total.

Global borrowing costs have spiked in recent months due to higher oil prices caused by the US-Iran war disrupting supplies and stoking fears of inflation.

Large amounts of cash being borrowed by tech firms to develop Artificial Intelligence (AI), with the timeline and level of returns on investment uncertain, and tax revenues being outstripped by public spending have also contributed to higher yields.

On Wednesday, figures revealed US national debt had more than doubled in a decade to reach a milestone $40tn (£29.4tn).

The rise reflects years of heavy spending under both the Trump and Biden administrations, along with higher interest payments that have added to the total.

In response to volatility in the bond markets, the dollar weakened. The dollar the world's primary reserve currency, meaning it is held by central banks around the world in large quantities as part of their foreign exchange reserves.

Central banks use US dollars in international transactions, to pay for international debt, or to support domestic exchange rates.

A fall in the dollar means US goods exports become cheaper, but imported goods may become more expensive due to the weaker currency. Americans going abroad also might notice their money does not go as far, while foreign tourists in the US might find their currency will buy them more.

Gold climbed to a more than three-month high on Friday amid uncertainty in the global economy. Investors see gold once of the safest places to invest in.

The US national debt has passed $40tn, a decade-long milestone, as the country continues to struggle with high borrowing costs and inflation concerns.

Interest rates on 30-year bonds had risen to around 5.27% earlier this week, but economists say the surprise move by the US government has proved short-lived.

The rise reflects years of heavy spending under both the Trump and Biden administrations, along with higher interest payments that have added to the total.

Global borrowing costs have spiked in recent months due to higher oil prices caused by the US-Iran war disrupting supplies and stoking fears of inflation.

A fall in the dollar means US goods exports become cheaper, but imported goods may become more expensive due to the weaker currency.

Investors see gold once of the safest places to invest in amid uncertainty in the global economy.

The US national debt has passed $40tn, a decade-long milestone, as the country continues to struggle with high borrowing costs and inflation concerns.

US national debt passes $40tn after doubling in a decade

Global borrowing costs have spiked in recent months due to higher oil prices caused by the US-Iran war disrupting supplies and stoking fears of inflation

Large amounts of cash being borrowed by tech firms to develop Artificial Intelligence (AI), with the timeline and level of returns on investment uncertain, and tax revenues being outstripped by public spending have also contributed to higher yields.

On Wednesday, figures revealed US national debt had more than doubled in a decade to reach a milestone $40tn (£29.4tn)

The rise reflects years of heavy spending under both the Trump and Biden administrations, along with higher interest payments that have added to the total

In response to volatility in the bond markets, the dollar weakened.

The dollar the world's primary reserve currency, meaning it is held by central banks around the world in large quantities as part of their foreign exchange reserves.

Central banks use US dollars in international transactions, to pay for international debt, or to support domestic exchange rates

A fall in the dollar means US goods exports become cheaper, but imported goods may become more expensive due to the weaker currency

Gold climbed to a more than three-month high on Friday amid uncertainty in the global economy

Investors see gold once of the safest places to