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Democrats blame Republicans as U.S. national debt tops $40T

financeAug 20, 20266413,558

The US gross national debt reached $40 trillion for the first time, the highest level in US history. The government deficit has doubled over the past decade, with the Guardian reporting that former president Donald Trump approved about $8.4 trillion of debt during his first term, much of it for Covid-19 relief, and President Joe Biden approved about $4.3 trillion. In fiscal year 2026, which began October 2025, roughly $1.8 trillion has been added so far. Democrats blamed Trump and a Republican-controlled Congress for the milestone, with Senator Mark Kelly saying the president promised to pay off the debt but instead ran it up, Representative Jasmine Crockett criticizing Republicans for giving tax breaks to billionaires, and Representative Jason Crow noting the Republican One Big Beautiful Bill adds over $4 trillion while the Congressional Budget Office estimates it will increase the deficit by $3.3 trillion. Republican congressman Thomas Massie highlighted rising interest costs, saying Americans pay about $4,000 per year each in interest and a family of four about $16,000, and Massie noted he lost his primary after opposing those policies to Ed Gallrein. The CBO estimate for the One Big Beautiful Bill and the FY2026 additions mean lawmakers face concrete budget trade-offs as they consider future spending or revenue measures.

Alt National Park Service
@altnps.bsky.social

The US gross national debt just crossed $40 trillion. Sure, let’s build a helicopter pad, a ballroom, paint statues gold, and keep going. 🙄

715245d ago
Ron Filipkowski
@ronfilipkowski.bsky.social

The national debt just hit $40 trillion, gas is $4 a gallon, personal bankruptcies are at an all-time high, mortgage rates are up, GDP growth is terrible, we are stuck in another endless Middle East conflict, but the Republican Party is focused on ballrooms and car races.

297045d ago
Aaron Rupar
@atrupar.com

Bessent downplays the national debt: "There's nothing magic about the $40 trillion number. We can grow our way out of that."

60945d ago
Quoting this
Dmitry Grozoubinski64

The Trump administration is so unfathomably lucky their reign coincided with the AI Boom/Bubble. - Huge capex spending that's immune to their bad policies - Massively inflated stock market - And now they can just imagine AGI will deliver 300% GDP growth any day now so the debt doesn't matter.

Sven-Erik Volberg40

US 30y bonds are at 5,5%, GDP growth was 1,5%. Can someone with better math skills help me out, how does the maths work?

Rep. Brendan Boyle20

Whenever there's a Republican in the White House, the debt magically isn't a problem for the GOP. The truth is, Secretary Bessent here will never truly care about the debt, because he and his billionaire friends are enjoying historic tax breaks on the American taxpayer's dime.

Dimitri Drekonja, MD, MS17

There was once a case for saying the national debt wasn’t a huge problem- but that REQUIRED the US being viewed as the most stable country in the world to invest in We are no longer that place. Anti-science. Corrupt justice system. Government demanding bribes. Debt matters when investment dries up🤷🏻‍♂️

Howard A. Rodman12

Kalshi, what’s the over/under about whether the deficit becomes our largest national concern the day after a Democrat gets elected?

Dave Long5

Not with you & Trump around.

Rose❤️🇨🇦Part owner of Canada.🇨🇦❤️4

Scott Bessent just got finished saying he can't account for the spike in oil... Now this. He is unqualified for this position.

Vern McCandlish4

The real value of having democrats control at least one branch of government, republicans will start to care about the national debt again.

Brian4

So, WE are borrowing at a 5.2% interest rate for 1.5% GDP growth last quarter. Gotta mind that gap, Scotty Too Hottie.

Dan Murphy4

I am not making this up and the crazy pills are really kicking in. bsky.app/profile/atru...

Chuck Schumer
@schumer.senate.gov

Gas above $4/gal. National debt at $40 trillion. Another endless war in the Middle East. The FDA gutted and foods being recalled every day.   And this is what Donald Trump is focused on.

7744d ago
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