Bipartisan Policies Drive U.S. Debt Past $40 Trillion, Experts Warn
U.S. national debt has exceeded $40 trillion, a result of decades of spending and tax cuts by both parties, according to analysts.
America's national debt surpassed $40 trillion, a level built over four decades of bipartisan fiscal choices. The surge started in the 1980s when tax cuts, increased military spending and rising entitlement costs pushed the total above $1 trillion. Brief budget surpluses in the late 1990s were followed by rapid debt expansion under both Republican and Democratic presidents, climbing from $5.7 trillion in 2000 to over $40 trillion by August 2026.
Major contributors include the Afghanistan and Iraq wars, large tax cuts, stimulus packages for the Great Recession and COVID-19, and growing Social Security and Medicare obligations. Debt-to-GDP ratios have risen from 30-50% after World War II to over 120% today. Representative Greg Steube contends that removing the filibuster and passing a balanced-budget amendment are essential steps to address the fiscal imbalance.
Why it matters
The soaring debt threatens future fiscal stability and could limit government options for spending and taxation.
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