World News Today Live Updates: US debt crosses $40 trillion threshold after doubling across Trump and Biden administrations
On Thursday, Iran-backed Houthi rebels claimed responsibility for two drone attacks on Saudi Arabia, targeting an airport and a facility belonging to Aramco, according to a statement from the Iran-aligned group's military spokesperson, Yahya Saree. However, Saudi Arabia has not yet validated these claims. Meanwhile, the US national debt has crossed the $40 trillion mark for the first time, according to the Treasury Department's latest daily cash and debt balances statement, published on Wednesday.
The total public debt outstanding now stands at $40.047 trillion, with $32.266 trillion of that amount held by the public and $7.782 trillion in intragovernmental debt. This figure represents a more than doubling of the federal government's debt in less than a decade, driven by COVID-19 borrowing, tax policies, and persistent spending imbalances.
Written by urgent.news from The Indian Express's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
