By Ethan Faverino |
The United States has surpassed $40 trillion in national debt, marking another record for the federal government and prompting renewed criticism from Congressman Andy Biggs (R-AZ-05) over Washington’s continued spending and borrowing.
According to the Joint Economic Committee’s Debt Monitor, the national debt has increased by approximately $90,257.73 every second over the past year. That amounts to roughly $5.42 million per minute, $324.93 million per hour, and $7.8 billion per day.
The national debt crossed the $40 trillion threshold on August 18, 2026, according to U.S. Treasury data.
The milestone came less than five months after the national debt surpassed $39 trillion in March, highlighting the accelerating pace at which the federal government is adding to its debt burden.
The Treasury Department also reported a federal budget deficit of more than $432 billion in July, adding to concerns about the government’s fiscal trajectory.
Biggs, the Republican candidate for Arizona Governor, said the latest debt milestone demonstrates what he characterized as decades of congressional unwillingness to impose meaningful limits on federal spending.
“It was fitting that America reached this grim debt milestone while legislators were absent from our nation’s capital,” stated Congressman Biggs.“For decades, Members of Congress have shown catastrophic unseriousness about reining in government spending and leaving a better future for the next generation.”
“Regardless of which party controls Congress, I have sounded the alarm on this fiscal cliff since I entered the U.S. House of Representatives and have introduced legislation to help solve this crisis,” added Biggs. “Our children and grandchildren will be forced to suffer the immense consequences of this inaction and fear of making tough decisions. No one should be surprised when that time arrives for our great nation.”
The $40 trillion milestone represents a doubling of the nation’s debt in less than a decade. Treasury data shows that approximately $32.3 trillion is held by the public, while another $7.8 trillion consists of intergovernmental holdings.
Biggs has repeatedly made federal spending and the national debt a central focus of his legislative work in Congress. His office points to several measures he has introduced aimed at addressing the nation’s long-term fiscal problems.
Among them is a proposed constitutional amendment, H. J. Res. 139, that would require the federal government to operate under a balanced budget by permanently prohibiting deficit spending. The proposal would also establish a two-thirds supermajority requirement for any legislation creating a new federal tax.
Biggs has also introduced, H. Res. 631, a resolution formally recognizing America’s debt as a threat to national security, as well as hundreds of bills aimed at reducing non defense discretionary spending.
The latest debt milestone comes as the federal government continues to run deficits approaching $2 trillion annually. The Congressional Budget Office has projected that federal revenues in FY26 will total roughly $5.6 trillion, compared with approximately $7.4 trillion in federal spending.
The rapid increase in federal debt has also raised concerns over the growing cost of servicing that debt. Interest payments have climbed to more than $1 trillion annually, adding another significant expense to the federal budget.
For Biggs, the latest milestone represents another warning that Congress will eventually have to confront the consequences of continued deficit spending.
Ethan Faverino is a reporter for AZ Free News. You can send him news tips using this link.
