US National Debt Surpasses $40 Trillion

Washington DC. The total debt of America has risen above $400 trillion. This is the first time the size of the debt has crossed this level. The debt reaching this level, with government spending continuously exceeding income, has increased concerns that America may face a serious financial crisis.

US Treasury Department data shows that the size of the debt was $199.50 trillion in January 2017 when Donald Trump first took office as President. Since then, the debt has more than doubled.