U.S. gross national debt has topped $40 trillion, standing near $40.05 trillion on the U.S. Debt Clock about five months after crossing $39 trillion, equal to roughly $116,486 per citizen and $360,794 per taxpayer, with debt-to-GDP at 122.7%. The latest trillion followed a rapid climb from $36 trillion in November 2024 through $37 trillion in August 2025, $38 trillion two months later, and $39 trillion in March 2026, when daily growth was running about $6 billion to $7 billion. Interest on the debt has risen to $1.12 trillion, overtaking defense to become the third-largest spending item behind Medicare/Medicaid at $1.99 trillion and Social Security at $1.65 trillion, with defense near $946.4 billion. Treasury Secretary Scott Bessent doubled permitted government debt buybacks after long-term yields hit their highest levels since 2007, while increasing short-term bill issuance and intervening to support the yen to limit further upward pressure on U.S. borrowing costs. Investor Jason Calacanis has faulted President Donald Trump for adding rapidly to the debt despite campaign pledges to reduce it, calling the trajectory a broken promise.