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U.S. national debt crosses $40 trillion for the first time

The milestone arrived months ahead of prior forecasts, driven by war spending, tax cuts, and rising interest costs that now exceed Medicare outlays

The U.S. national debt crossed $40 trillion for the first time this week, according to the Treasury Department, as government spending continues to outpace revenue by more than $2 trillion annually.

Treasury data showed the debt reaching $40.047 trillion, a figure that has more than doubled from roughly $20 trillion less than a decade ago, according to Reuters. A Congressional Budget Office forecast from May 2023 had not anticipated the........

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