U.S. National Debt Reaches $40 Trillion

Why it matters locally: An increasing national debt could impact federal funding for infrastructure projects and social programs that benefit Oregonians, and may influence future interest rates on loans for businesses and individuals in the state.

---

The United States national debt exceeded $40 trillion on Wednesday. This figure represents a new record. Defense spending, social programs such as Social Security and Medicare, and interest payments on the existing debt collectively account for a substantial portion of federal expenditures.