US national debt tops $40 trillion

The U.S. national debt crossed $40 trillion for the first time, more than doubling in less than a decade.

The milestone underscores the country's fiscal challenges, with interest payments now exceeding $1 trillion annually.

Treasury Secretary Scott Bessent has faced scrutiny over his bond market interventions and the government's borrowing needs.

Economists warn that the debt trajectory could have long-term consequences for economic growth and financial stability.