An electronic display shows the national debt in Washington, DC on August 19, 2026. The US national debt exceeded a record 40 trillion USD. The US gross national debt has surged past $40 trillion for the first time, government data showed Wednesday, outstripping earlier forecasts at a pace fuelled in part by President Donald Trump's invalidated tariffs. The uptick in borrowing comes as longer term US obligations linked to social security and health care have been growing, while interest payments have climbed as well. (Photo by Mandel NGAN / AFP via Getty Images)

An electronic display shows the national debt in Washington, DC on August 19, 2026. The US national debt exceeded a record 40 trillion USD. The US gross national debt has surged past $40 trillion for the first time, government data showed Wednesday, outstripping earlier forecasts at a pace fuelled in part by President Donald Trump's invalidated tariffs. The uptick in borrowing comes as longer term US obligations linked to social security and health care have been growing, while interest payments have climbed as well. (Photo by Mandel NGAN / AFP via Getty Images)

An electronic display shows the national debt in Washington, DC on August 19, 2026. The US national debt exceeded a record 40 trillion USD. The US gross national debt has surged past $40 trillion for the first time, government data showed Wednesday, outstripping earlier forecasts at a pace fuelled in part by President Donald Trump's invalidated tariffs. The uptick in borrowing comes as longer term US obligations linked to social security and health care have been growing, while interest payments have climbed as well. (Photo by Mandel NGAN / AFP via Getty Images)

The floor of the Lincoln Memorial Reflecting Pool on the National Mall is seen in Washington, DC, on August 19, 2026. US President Donald Trump had made the renovation of the reflecting pool a national drama by repeatedly discussing plans and providing regular updates of the expedited work ahead of America's 250th anniversary celebrations earlier this summer. When the pool liner began peeling off and algae grew quickly despite the application of chemicals, Trump blamed vandalism for the damage while providing no meaningful evidence. The US Justice Department on August 1 dropped its case against a former Olympian accused of damaging the Lincoln Memorial Reflecting Pool, saying the hurried renovations ordered by President Donald Trump had been botched. (Photo by Kent Nishimura / AFP via Getty Images)

WASHINGTON, DC - AUGUST 19: (L-R) Managing Partner, Paradigm Alana Palmedo, A16z founder Chris Dixon, Coinbase CEO Brian Armstrong, Gemini co-founder Cameron Winklevoss, Kraken CEO Arjun Sethi, Chairman of the U.S. Securities and Exchange Commission (SEC) Paul Atkins, Gemini CEO Tyler Winklevoss and Commodity Futures Trading Commission (CFTC) Chairman Michael Selig during a summit of crypto and technology leaders in the Roosevelt Room of the White House on August 19, 2026 in Washington, DC. President Trump held the meeting with cryptocurrency business leaders to discuss regulatory frameworks for digital assets and artificial intelligence. Currently, the CLARITY Act, the landmark bill that would define SEC and CFTC jurisdiction over digital assets, remains stalled in the Senate. (Photo by Alex Wong/Getty Images)

Tyler Winklevoss, founder and CEO of Gemini cryptocurrency exchange, speaks as his brother Cameron Winklevoss, co-founder and president of Gemini, looks on during a meeting with US President Donald Trump and cryptocurrency executives in the Roosevelt Room of the White House in Washington, DC, on August 19, 2026. (Photo by Jim WATSON / AFP via Getty Images)

WASHINGTON, DC - AUGUST 19: Co-founder of Chainlink Sergey Nazarov (R) speaks as U.S. President Donald Trump listens during a summit of crypto and technology leaders in the Roosevelt Room of the White House on August 19, 2026 in Washington, DC. President Trump held the meeting with cryptocurrency business leaders to discuss regulatory frameworks for digital assets and artificial intelligence. Currently, the CLARITY Act, the landmark bill that would define SEC and CFTC jurisdiction over digital assets, remains stalled in the Senate. (Photo by Alex Wong/Getty Images)

WASHINGTON, DC - AUGUST 19: U.S. President Donald Trump shakes hands with Commodity Futures Trading Commission (CFTC) Chairman Michael Selig during a summit of crypto and technology leaders in the Roosevelt Room of the White House on August 19, 2026 in Washington, DC. President Trump held the meeting with cryptocurrency business leaders to discuss regulatory frameworks for digital assets and artificial intelligence. Currently, the CLARITY Act, the landmark bill that would define SEC and CFTC jurisdiction over digital assets, remains stalled in the Senate. (Photo by Alex Wong/Getty Images)