US government debt
US government debt surpassed $40 trillion for the first time ever, as borrowing accelerated to a record pace, raising investor concerns over the country’s fiscal position despite President Donald Trump’s pledge to rein in government spending. 
Data released on Wednesday by the US Treasury showed that government debt crossed the threshold on Tuesday, after rising by about $3 trillion over the past year.
This marks the fastest pace of increase in US debt on record, excluding the COVID-19 pandemic period, according to Financial Times calculations based on the data.
Mark Goldwein, policy director at the Committee for a Responsible Federal Budget, said the debt reaching this level serves as a major warning sign.
He noted that this does not mean the fiscal situation will collapse immediately, but it is a strong indication that matters are getting out of control, not only because of the size of the debt, but also because of the speed at which it has reached this level.
US government debt
US government debt surpassed $40 trillion for the first time ever, as borrowing accelerated to a record pace, raising investor concerns over the country’s fiscal position despite President Donald Trump’s pledge to rein in government spending.
Data released on Wednesday by the US Treasury showed that government debt crossed the threshold on Tuesday, after rising by about $3 trillion over the past year.
This marks the fastest pace of increase in US debt on record, excluding the COVID-19 pandemic period, according to Financial Times calculations based on the data.
Mark Goldwein, policy director at the Committee for a Responsible Federal Budget, said the debt reaching this level serves as a major warning sign.
He noted that this does not mean the fiscal situation will collapse immediately, but it is a strong indication that matters are getting out of control, not only because of the size of the debt, but also because of the speed at which it has reached this level.
