For the first time in U.S. history, the national debt has surpassed $40 trillion. The milestone comes as the federal government has added roughly $2.5 trillion since the beginning of fiscal year 2026 on October 1, 2025. The Congressional Budget Office reports that the government borrowed about $1.8 trillion during the first 10 months of the fiscal year alone. Using the Census Bureau's 2026 population estimate of roughly 342.7 million people, $40 trillion equates to approximately $116,700 in gross federal debt for every U.S. resident. And the cost of servicing that debt is growing: the CBO reported approximately $963 billion in net interest payments during the first 10 months of FY2026, or more than $3 billion per day.

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For the first time in U.S. history, the national debt has surpassed $40 trillion. The milestone comes as the federal government has added roughly $2.5 trillion since the beginning of fiscal year 2026 on October 1, 2025. The Congressional Budget Office reports that the government borrowed about $1.8 trillion during the first 10 months of the fiscal year alone. Using the Census Bureau's 2026 population estimate of roughly 342.7 million people, $40 trillion equates to approximately $116,700 in gros