National debt

The Treasury Department building is seen, March 13, 2025, in Washington. (AP Photo/Alex Brandon, File)

US national debt surges past $39 trillion just weeks into war in Iran

The U.S. national debt has hit a record $39 trillion. The deficit hit the milestone Wednesday just weeks into the U.S.-Israeli war in Iran.

Treasury Secretary Scott Bessent speaks with reporters at the White House, Wednesday, Oct. 22, 2025, in Washington. (AP Photo/Evan Vucci)

US hits $38 trillion in debt, after the fastest accumulation of $1 trillion outside of the pandemic

FILE- This June 6, 2019, file photo shows the U.S. Treasury Department building at dusk in Washington. The U.S. Treasury has removed Vietnam and Switzerland from the list of nations labeled as currency manipulators, reversing a decision made by the Trump administration in December. In it's semi-annual report to Congress on currency manipulation, the first under the Biden administration, the U.S. Treasury Department said Friday, April 16, 2021, that no country currently meets the U.S. criteria. It said, however, that Vietnam, Switzerland, as well as Taiwan, will be placed under enhanced monitoring for their recent actions. (AP Photo/Patrick Semansky, File)

US national debt reaches a record $37 trillion, the Treasury Department reports

President Donald Trump speaks during a swearing in ceremony for interim U.S. Attorney General for the District of Columbia Jeanine Pirro, Wednesday, May 28, 2025, in the Oval Office of the White House in Washington. (AP Photo/Evan Vucci)

Trump’s national debt pledge faces skepticism from investors and some Republicans

Treasury Secretary Scott Bessent testifies before the House Committee on Appropriations, Subcommittee on Financial Services and General Government, oversight hearing of the U.S. Department of the Treasury on Capitol Hill in Washington, Tuesday, May 6, 2025. (AP Photo/Jose Luis Magana)

Treasury secretary calls on Congress to raise or suspend the debt ceiling by mid-July

Senators emerge after Trump’s big tax breaks and spending cuts bill passes

The Senate has passed President Donald Trump’s big bill of tax breaks and spending cuts, with Vice President JD Vance breaking a 50-50 tie to push it over the top.

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Senate Republicans haul Trump’s big bill to passage after a turbulent all-night session

Senators consider changes to debt limit and Medicaid in Trump’s big bill

House passes three-month government funding bill, sending it to Senate as deadline looms

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Scott Bessent, United States Secretary of the Treasury, speaks at an Economic Club of New York luncheon in New York, Thursday, March 6, 2025. (AP Photo/Seth Wenig)

US could run short of money to pay its bills by August without a debt limit deal, CBO says

Friedrich Merz, left, leader of the Christian Democratic Union (CDU) and Lars Klingbeil, co-leader of the Social Democratic Party (SPD) address the media during a press conference in Berlin, Germany, Tuesday, March 4, 2025. (Carsten Koall/dpa via AP, File)

Germany to ease government debt limits in major step aimed at boosting economy, defense spending

People take their places as a rehearsal begins on the West Front of U.S. Capitol ahead of President-elect Donald Trump's upcoming inauguration, Sunday, Jan. 12, 2025, in Washington. (AP Photo/Jon Elswick)

Yellen says Treasury will use ‘extraordinary measures’ on Jan. 21 to prevent hitting debt ceiling

Scott Bessent, President-elect Donald Trump's choice to be Secretary of the Treasury, appears before the Senate Finance Committee for his confirmation hearing, at the Capitol in Washington, Thursday, Jan. 16, 2025. (AP Photo/Ben Curtis)

CBO projects US debt to grow $23.9 trillion in 10 years, not including costs of extending tax cuts

U.S. Treasury Secretary Janet Yellen speaks during a visit to the Financial Crimes Enforcement Network (FinCEN) in Vienna, Va., on Jan. 8, 2024. (AP Photo/Susan Walsh, File)

Janet Yellen tells Congress US could hit debt limit in mid-January

President-elect Donald Trump speaks during a meeting with the House GOP conference, Nov. 13, 2024, in Washington. (Allison Robbert/Pool Photo via AP, File)

What Trump’s decision to wade into spending fight tells us about the next 4 years

Speaker of the House Mike Johnson, R-La., talks to reporters after passing the funding bill to avert the government shutdown at the Capitol in Washington, Friday, Dec. 20, 2024. (AP Photo/Jose Luis Magana)

Government shutdown is averted just after deadline as Congress rejects Trump’s debt limit demands

FILE—Speaker of the House Mike Johnson, R-La., takes questions from reporters after presenting his final version of an interim pending bill to his caucus, at the Capitol in Washington, Tuesday, Dec. 17, 2024. President-elect Donald Trump has now abruptly rejected the bipartisan plan to prevent a Christmastime government shutdown. Instead, he's telling House Speaker Mike Johnson and Republicans to essentially renegotiate — days before a deadline when federal funding runs out. (AP Photo/J. Scott Applewhite, File)

What to know about the debt ceiling debate as a government shutdown looms in Washington

FILE—Speaker of the House Mike Johnson, R-La., takes questions from reporters after presenting his final version of an interim pending bill to his caucus, at the Capitol in Washington, Tuesday, Dec. 17, 2024. President-elect Donald Trump has now abruptly rejected the bipartisan plan to prevent a Christmastime government shutdown. Instead, he's telling House Speaker Mike Johnson and Republicans to essentially renegotiate — days before a deadline when federal funding runs out. (AP Photo/J. Scott Applewhite, File)

House rejects Trump-backed plan on government shutdown, leaving next steps uncertain

This combination photo shows Democratic presidential nominee Vice President Kamala Harris at a rally in Flint, Mich., Oct. 4, 2024, left, and Republican presidential nominee former President Donald Trump at a campaign rally in Walker, Mich., Sept. 27, 2024. (AP Photo)

New analysis suggests national debt could increase under Harris, but it would surge under Trump

FILE - Kenya's President William Ruto gestures to party officials as he walks with his wife Rachel Ruto as he prepares to address the media at his official residence in Nairobi, Kenya Monday, Sept. 5, 2022. The ballooning debt in East Africa's economic hub of Kenya is expected to grow even more after deadly protests forced the rejection of a finance bill that President William Ruto said was needed to raise revenue. He now warns “it will have huge consequences.” (AP Photo/Brian Inganga, File)

Kenya’s president warns of huge consequences after his effort to address an $80 billion debt fails

The UN says global public debt hit a record $97 trillion in 2023. Developing countries are hard hit

FILE - The Treasury Building in Washington, on May 4, 2021. The U.S. and U.K. on Thursday imposed sanctions on four leaders of Yemen’s Houthi rebel group who have supported the militant group’s recent attacks on vessels in the Red Sea and Gulf of Aden. (AP Photo/Patrick Semansky, File)

US national debt hits record $34 trillion as Congress gears up for funding fight

FILE - This photo shows signage for Fitch Ratings, Sunday, Oct. 9, 2011, in New York. On Tuesday, Aug. 1, 2023, Fitch Ratings has downgraded the U.S. credit rating, citing an expected increase in government debt over the next three years and a “steady deterioration in standards of governance” over the past two decades. (AP Photo/Henny Ray Abrams, File)

Fitch downgrades US credit rating, citing mounting debt and political divisions

Japanese foreign minister Yoshimasa Hayashi, left, shakes hands with his Sri Lankan counterpart Ali Sabry after their meeting in Colombo, Sri Lanka on Saturday, July 29, 2023. (AP Photo/Eranga Jayawardena)

With one eye on China, Japan backs Sri Lanka as a partner in the Indo-Pacific

Speaker of the House Kevin McCarthy, R-Calif., speaks at a news conference as the House prepares to leave for its August recess, at the Capitol in Washington, Thursday, July 27, 2023. (AP Photo/J. Scott Applewhite)

Members of Congress break for August with no clear path to avoiding a shutdown this fall

FILE - Tunisian health workers attend a protest as part of a general strike by public servants organized by labor unions, demanding pay raises and more government support in Tunis, on June 18, 2020. Some 3.3 billion people – almost half of humanity – now live in countries that spend more money paying interest on their debts than on education or health, according to a new U.N. report released Wednesday July 12, 2023. (AP Photo/Hassene Dridi, File)

3.3 billion people live in countries that spend more on debt interest than education, UN says

Speaker of the House Kevin McCarthy, R-Calif., walks to the House chamber at the Capitol in Washington, Wednesday, May 31, 2023. as the House moves toward passage of the debt limit bill. (AP Photo/Jose Luis Magana)

How Biden and McCarthy struck a debt limit deal and staved off a catastrophe

In this image from Senate Television, the final vote of 63-36 shows passage of the bill to raise the debt ceiling Thursday night, June 1, 2023, in the Senate at the Capitol in Washington. President Joe Biden is expected to quickly sign the bill that will stave off default. (Senate Television via AP)

Just days to spare, Senate gives final approval to debt ceiling deal, sending it to Biden

Speaker of the House Kevin McCarthy, R-Calif., walks to the House chamber at the Capitol in Washington, Wednesday, May 31, 2023. as the House moves toward passage of the debt limit bill. (AP Photo/Jose Luis Magana)

Underestimated McCarthy emerges from debt deal empowered as speaker, still threatened by far right

The U.S. Capitol is seen on Monday, May 29, 2023, in Washington. After weeks of negotiations, President Joe Biden and House Speaker Kevin McCarthy have struck an agreement to avert a potentially devastating government default. The stakes are high for both men — and now each will have to persuade lawmakers in their parties to vote for it. (AP Photo/Jose Luis Magana)

Debt limit deal is in place, but budget deficit is still a multi-decade challenge for US government

President Joe Biden gets set to board Air Force One, Monday, May 29, 2023, at Andrews Air Force Base, Md. (AP Photo/Patrick Semansky)

Debt ceiling takeaways: Biden’s invite to liberal skeptics to ‘talk to me,’ McCarthy’s balancing act

FILE - Top Republican debt crisis mediators Rep. Garret Graves, R-La., left, and Rep. Patrick McHenry, R-N.C., center, chairman of the House Financial Services Committee, with Rep. Chip Roy, R-Texas, upper right, have a laugh as they stop for questions by reporters on progress in the talks with the Biden administration, at the Capitol in Washington, Tuesday, May 23, 2023. Rep. Chip Roy, R-Texas, a member of the conservative House Freedom Caucus, has blasted the tentative debt ceiling deal struck by Speaker Kevin McCarthy, R-Calif., and President Joe Biden and says he will try to stop it in the House. (AP Photo/J. Scott Applewhite, File)

Debt ceiling agreement gets thumbs up from business groups, jeers from some on political right

FILE - House Speaker Kevin McCarthy, of Calif., leads fellow members of Congress and law enforcement officers as they arrive at the National Law Enforcement Officers Memorial, in Washington, Thursday, May 11, 2023. McCarthy lead his "Back the Blue" bike tour of Washington, before laying wreaths at the memorial. (AP Photo/Cliff Owen, File)

Debt ceiling tests Speaker McCarthy as he rides breezily through high-wire act of his career

The national debt clock is seen in midtown Manhattan, Thursday, May 25, 2023. Both President Joe Biden and House Speaker Kevin McCarthy are speaking hopefully of the likelihood of an agreement to raise the government's debt limit and avert an economically chaotic federal default. (AP Photo/Mary Altaffer)

Debt ceiling explained: What to know about the showdown in Washington as default looms

FILE - The rising sun illuminates the U.S. Capitol, Dec. 19, 2022 in Washington. A new poll finds that most U.S. adults say they are highly concerned about the impact on the national economy if the U.S. debt limit is not increased and the government defaults on its loans. That's according to a survey from The Associated Press-NORC Center for Public Affairs Research. (AP Photo/Matt Rourke, File)

Most favor pairing debt limit rise with deficit cuts, but few following debate closely: AP-NORC poll

Speaker of the House Kevin McCarthy of Calif., left, and Vice President Kamala Harris listen as President Joe Biden speaks during a meeting with Congressional leaders in the Oval Office of the White House, Tuesday, May 16, 2023, in Washington. (AP Photo/Evan Vucci)

Debt limit progress as Biden, McCarthy name top negotiators to avert national default

FILE - Senate Minority Leader Mitch McConnell of Ky., Speaker of the House Kevin McCarthy of Calif., and Senate Majority Leader Sen. Chuck Schumer of N.Y., listen as President Joe Biden speaks before a meeting to discuss the debt limit in the Oval Office of the White House, Tuesday, May 9, 2023, in Washington. (AP Photo/Evan Vucci, File)

In debt ceiling standoff, COVID era of big spending gives way to new focus on deficit

Senate Minority Leader Mitch McConnell of Ky., Speaker of the House Kevin McCarthy of Calif., and Senate Majority Leader Sen. Chuck Schumer of N.Y., listen as President Joe Biden speaks before a meeting to discuss the debt limit in the Oval Office of the White House, Tuesday, May 9, 2023, in Washington. (AP Photo/Evan Vucci)

Biden: Debt meeting ‘productive,’ default ‘not an option’

The Capitol is seen in Washington, Wednesday, May 3, 2023, as lawmakers struggle to avoid a default on the nation's debt. (AP Photo/J. Scott Applewhite)

How does the US debt limit standoff end? A look at the possible scenarios

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