On August 18, 2026, the United States national debt reached $40.047 trillion. This figure has doubled since January 2017 and quadrupled over the last 20 years. The country added $1 trillion in new obligations in the five months since March 2026, when the debt stood at $39 trillion.
Public debt held by investors accounts for $32.266 trillion of the total, while the remainder is held in intragovernmental accounts. On the same day the debt milestone was reached, the 30-year Treasury yield hit 5.337%, the highest level recorded since 2007.
Annual net interest payments on the national debt have surpassed $1 trillion, exceeding the country's defense spending. The projected deficit for fiscal 2026 is approximately $2 trillion. To manage yield pressures, the Treasury Department is conducting buyback operations for long-dated bonds.
Organizations such as the Committee for a Responsible Federal Budget have warned that current fiscal trends could limit public funding and increase economic vulnerability. Unlike Japan, which holds most of its debt domestically, the US relies heavily on foreign governments and institutional investors to hold its Treasuries.
