The US national debt now stands at $40 trillion

WASHINGTON (AP) – The national debt surpassed a record $40 trillion on Wednesday, a staggering milestone as defense costs, social programs like Social Security and Medicare and interest on the burgeoning deficit create up an enormous share of federal spending.

What happened

For context, the milestone figure was recorded just five months after the U.S. Hit a record $39 trillion debt in March. It reached $38 trillion five months before that, in October.

Notably, the unprecedented $40 trillion figure highlights competing administration priorities, from boosting defense spending that the U.S. Relies on to carry out President Donald Trump's almost-6-month-old war in Iran to lowering the cost of gas and groceries.

Kush Desai, a White House spokesman, remarked the Trump administration "has been focused on slashing waste, fraud, and abuse in federal spending while accelerating economic growth to get America's debt-to-GDP ratio trending in the right direction."

The bottom line

In short, the US national debt now stands at $40 trillion is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.