Live updates: US national debt hits record $40 trillion

Braid was in charge of helping to shepherd Trump’s legislative agenda through a Congress where his Republican Party controlled both chambers.

Vice President JD Vance wrote on X that Braid “played a critical role in all of the administration’s achievements in Congress,” including the sweeping tax and spending legislation approved last summer.

Vance described Braid as “brilliant” and “one of the hardest workers you will ever meet.”

The vice president didn’t provide details of Braid’s next job, saying only that he was “very excited to see what he does next.”

The Asia-based USS George Washington aircraft carrier is now operating in the Middle East, the U.S. military said Thursday.

The Washington is relieving the long-deployed USS Abraham Lincoln after reports that sailors were facing mental health challenges and supply shortages while supporting the Iran war.

The Lincoln’s deployment has included a record-setting uninterrupted time at sea. Democratic lawmakers are pressing for accountability from the Pentagon over conditions aboard the carrier, which Defense Secretary Pete Hegseth has said were “completely misrepresented.”

The deployment of the Washington to the Middle East has left Asia without an American carrier strike group at a time when China shows more signs of aggression.

Secretary of State Marco Rubio has designated a U.S. citizen scholar jailed in China as “wrongfully detained” as Trump prepares to welcome Chinese President Xi Jinping to the White House next month.

The State Department said Thursday that Rubio had decided that Min Zin, who was arrested by Chinese authorities in June, is being unjustly held.

“We call on Beijing to release all U.S. citizens arbitrarily detained or exit-banned in China,” the department said.

The designation raises the profile of his case within the U.S. government and in the past has led to additional attention and resources being devoted to securing the release of wrongful detainees.

Min Zin, who writes about Myanmar and Chinese foreign policy, was arrested on suspicion of spying. He was a student activist in Myanmar’s 1988 uprising, a student-led movement that the government at the time reacted to with military force. He eventually sought asylum in the U.S.

The Democratic Congressional Campaign Committee said the expansion showcases the depth of their candidate bench as they try to wrest majority control of the House.

Chair Suzan DelBene said the candidates are “proven fighters” at a time when voters are “eager for leaders who will always put the well-being of their communities first, not rubber stamp Trump’s failed agenda.”

The candidates include Retired Army Brigadier General Leela Gray in Florida, former federal prosecutor Zach Dembo in Kentucky, Maine state auditor Matt Dunlap, former Navy helicopter pilot Nancy Lacore in South Carolina and former Rep. Tom Perriello in Virginia. The “red to blue” program invests in promising candidates with funding and other support.

Democrats on Thursday narrowed the list of potential host cities for their 2028 presidential convention to Boston, Denver and Philadelphia as their party looks ahead to a wide-open primary to succeed President Trump.

Democratic National Committee Chairman Ken Martin said in a statement the cities put forward “incredibly strong bids,” and he promised the convention would be an “inspiring celebration of our party’s future nominee.”

A final decision is expected to be made later this year by party leaders. Republicans have already chosen Houston for the site of their 2028 convention.

The Democratic convention, scheduled for Aug. 7-10, 2028, traditionally gives the party a chance to formally introduce its nominee to the country, rally the base and kick-start the most intense period of campaigning ahead of the general election.

The party didn’t specify why Atlanta and Chicago, which was the site of the 2024 convention, were eliminated. Officials visited all five cities in April and May, considering logistical and fundraising capacity among other factors.

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Trump played White House tour guide on Wednesday, showing off the helipad he is building on the lawn before leaning over to autograph a piece of it and bragging about the ballroom he’s rushing to complete despite legal challenges.

Trump gushed for several uninterrupted minutes about granite being laid and said the chopper landing area would leave visiting foreign leaders “very impressed” — including Chinese President Xi Jinping, who is coming next month.

At times, he sounded almost like a construction manager, singing the praises of granite over asphalt in painstaking detail and noting for reporters he brought out for the show that the stone could withstand 35,000 pounds per square inch of pressure.

The president also revealed for the first time that he has replaced the walkway from the White House’s diplomatic entrance along with a portion of the asphalt driveway around the South Lawn with white granite.

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Normally quiet, the bond market can occasionally send warning signals loud enough to hit stock markets worldwide and even grab the attention of U.S. presidents and other world leaders.

After the bond market’s alarm bells rose in volume through the summer, the Trump administration announced on Wednesday a move that could help calm it down. The U.S. Treasury Department said it will more than double the amount of U.S. government bonds that it will buy back, and the move worked in getting longer-term yields lower, for now at least.

Yields worldwide had earlier climbed to heights not reached in years and, in some cases, decades, because of the jump in oil prices due to the war with Iran, worries about big and growing debts for governments and other concerns.

The stakes are high because high yields drag on economies and bring downward pressure on stock markets after Wall Street hit records on excitement about big corporate profits and the promise of artificial-intelligence technology.

But what’s to come is still uncertain, and some analysts warn the Treasury Department’s move could even ultimately backfire.

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The national debt surpassed a record $40 trillion on Wednesday, a staggering milestone as defense costs, social programs like Social Security and Medicare and interest on the burgeoning deficit make up an enormous share of federal spending.

The milestone figure was recorded just five months after the U.S. hit a record $39 trillion debt in March. It reached $38 trillion five months before that, in October.

The unprecedented $40 trillion figure highlights competing administration priorities, from boosting defense spending that the U.S. relies on to carry out President Donald Trump’s almost-6-month-old war in Iran to lowering the cost of gas and groceries.

Kush Desai, a White House spokesman, said the Trump administration “has been focused on slashing waste, fraud, and abuse in federal spending while accelerating economic growth to get America’s debt-to-GDP ratio trending in the right direction.”

However, experts say the exploding debt and the latest record milestone are already affecting Americans’ pocketbooks by raising borrowing costs for things like mortgages and cars, lowering wages from businesses that have less money available to invest, and creating more expensive goods and services.

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