US National Debt Surpasses Record $40 Trillion Amid Growing Budget Deficits

The US national debt has reached a record $40 trillion, surpassing previous milestones due to increasing defense costs, social programs such as Social Security and Medicare, and interest on the debt itself. This significant milestone highlights growing concerns about the nation's long-term fiscal health. The national debt now accounts for nearly 140% of the country's gross domestic product (GDP).