US Debt Hits $40 Trillion as Treasury Yields Reach 5.04%, Interest Payments Top Defense

The US gross national debt crossed $40 trillion in August, with the deficit hitting $2 trillion and net interest payments exceeding national defense spending for the first time. The 10-year Treasury yield hit 5.04%, its highest since 2007, as Moody's stripped the US of its last AAA rating in 2025.

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