In racing past the $39 trillion national debt line, the U.S. is now taking on new debt at the rate of over $7 billion dollars per day. This record was confirmed by yesterday’s Daily Treasury Statement. At this rate, it will blow past $40 trillion by the end of summer, more than double the level when Trump, back in 2017, promised to eliminate the national debt.
Further, this year will also see the net interest payments, merely to service the debt, surpass the $1 trillion level—almost three times the 2020 level. In the first 2 1/2 months of 2026, the debt service alone amounted to $270 billion. So far this year, this is even higher than military expenditures—though the Trump administration has also made noise about increasing the military budget from close to a trillion to $1.5 trillion.
