The Peterson Foundation says that on or about March 18, the national debt will reach $39 trillion. The national debt will exceed $40 trillion by the end of October, the Peterson Foundation projects. The debt has doubled in the 10 years since Donald Trump, on March 31, 2016, vowed to eliminate the debt in eight years. The higher the national debt as a percentage of GDP, the less leeway government has to respond to recessions or other economic shocks. The Committee for a Responsible Federal Budget says the government entered the last two recessions with the national debt at 35 percent and 80 percent of GDP, respectively.

Source: Washington Post March 18, 2026 21:56 UTC