U.S. National Debt Surpasses $40 Trillion

The United States Department of the Treasury reported that the national debt reached $40.05 trillion as of the close of business on Tuesday. This milestone represents a nearly 600% increase since 2000, when the total debt was approximately $5.8 trillion. The current debt load averages roughly $116,800 per person across the U.S. population.

The Treasury Department attributed a significant portion of the deficit to the COVID-19 pandemic, which drove federal spending up by about 50% between fiscal year 2019 and 2021. The federal government has not recorded a surplus since 2001.

Debt growth has varied across recent administrations. Joe Biden's presidency saw the largest dollar increase at $8.45 trillion, while Barack Obama experienced the highest percentage increase during his first term. Under the current term of Donald Trump, the national debt has grown by 10.6% since January 2025.