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The US national debt has surpassed $40 trillion for the first time ever. The Treasury Department on 18th announced that it will expand its buyback program for long-term government bonds. As of the end of July, the US government's total debt reached $40.007 trillion, or 243% of gross domestic product, according to the Treasury Department's data. The milestone comes as lawmakers prepare for a potential showdown over government funding and the debt ceiling next month. The Treasury Department said in a statement that it will increase the size of its buyback program to $30 billion from $10 billion. The program, which began in 2000 and was suspended in 2002, was restarted last year with $10 billion in buybacks. The buyback program is aimed at improving liquidity in the government bond market and reducing the government's debt burden. The Treasury Department said it will continue to monitor market conditions and adjust the size of the buyback program as needed. The move comes as the US government faces a challenging fiscal environment, with a large budget deficit and a growing national debt. The US government's budget deficit was $1.1 trillion in the first 10 months of the fiscal year, up 121% from the same period last year. The Treasury Department's announcement comes as lawmakers are preparing for a potential showdown over government funding and the debt ceiling. The debt ceiling, which is currently set at $31.4 trillion, needs to be raised or suspended by Congress to avoid a default on US debt. Lawmakers are expected to face a tough battle over government funding and the debt ceiling, with some Republicans calling for spending cuts and others opposing any increase in the debt ceiling. The US government's growing national debt has raised concerns among some lawmakers and economists, who warn that it could lead to higher interest rates and slower economic growth. The Treasury Department's move to expand its buyback program is seen as a step to address these concerns and improve the government's fiscal position. However, some critics argue that the buyback program is a short-term solution and does not address the underlying issues driving the US government's debt burden. They argue that lawmakers need to take a more comprehensive approach to addressing the US government's fiscal challenges, including reforms to entitlement programs and the tax code. Despite these concerns, the Treasury Department's move to expand its buyback program is seen as a positive step by some analysts, who argue that it will help to improve liquidity in the government bond market and reduce the government's debt burden. The US government's growing national debt is a complex issue that requires a comprehensive solution. The Treasury Department's move to expand its buyback program is a step in the right direction, but lawmakers will need to take a more comprehensive approach to addressing the US government's fiscal challenges.

2026-08-19 ·hani.co.kr

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