US National Debt Hits Record $40.52 Trillion
The Congressional Budget Office warns that the US national debt has reached $40.52 trillion, requiring urgent policy action to address a growing structural deficit.
The United States national debt reached a record $40.52 trillion as of October 26, 2026. The Congressional Budget Office projects a total budget shortfall of $25.6 trillion over the next decade, with the annual deficit expected to widen from $2 trillion in fiscal year 2026 to over $3 trillion by 2036.
Interest payments to service this debt are projected to cost the U.S. Treasury $20.1 trillion between 2026 and 2036. Annual interest costs are forecast to rise from $1.2 trillion this year to nearly $2.5 trillion by 2036. A primary driver of this spending is an aging population, which is expected to push the cost of social and health benefits from $3.7 trillion in 2026 to $6.1 trillion by 2036.
CBO Director Phil Swagel stated that the current 6% of GDP structural budget deficit is unprecedented. While some policymakers suggest that artificial intelligence or economic growth could mitigate these fiscal pressures, Swagel argued that stronger growth alone is insufficient and that specific policy actions are required to address the deficit.
