Abu dhabi: The United States Department of the Treasury announced that total US national debt has surpassed the $40 trillion mark for the first time, driven by rising costs for entitlement programs and interest payments alongside falling revenues.
According to Emirates News Agency, the Treasury's daily statement showed total debt outstanding reached $40.047 trillion. This figure comprises $32.266 trillion in debt held by the public and $7.782 trillion in intragovernmental holdings held by federal agencies.