InternationalThursday, 20 August 2026·The Hindu - International
U.S. national debt crosses $40 trillion; Congress controls the borrowing limit
The U.S. national debt crossed $40 trillion on August 19, 2026, and Congress retains authority over the statutory debt limit.
Key highlights
Direct fact
On August 19, 2026, the U.S. national debt crossed $40 trillion, with the next projected debt-limit threshold estimated at $41.1 trillion sometime between late winter and mid-summer of 2027.
Key specifics
- The record $40 trillion level was reached on August 19, 2026.
- The debt had hit $39 trillion in March 2026 and $38 trillion in October 2025.
- The U.S. statutory debt limit is set, adjusted or abolished by Congress.
- The Bipartisan Policy Center estimates the next limit at $41.1 trillion between late winter and mid-summer of 2027.
- OECD data cited in the report says the U.S. fiscal position is the worst among developed countries.
Exam lens
TNPSC international affairs may ask about debt ceiling, Congress, and fiscal indicators; remember $40 trillion on August 19, 2026, Congress, and the OECD comparison.