₦airaland Forum

Milestone marks years of government spending that grew under both Donald Trump and Joe Biden

Lauren Aratani
Wed 19 Aug 2026 17.24 EDT

US debt reached $40tn for the first time on Wednesday, the US treasury department said, after the government deficit doubled over the last decade.

The treasury’s latest debt balance showed $40.047tn on Tuesday afternoon, the highest in US history.

The milestone marks years of government spending that grew under both Donald Trump and Joe Biden. During his first term, Trump approved $8.4tn worth of debt, with a huge chunk going to Covid-19 relief spending, while Biden approved $4.3tn worth of debt, according to the Committee for a Responsible Federal Budget.


In fiscal year 2026, which started in October 2026, $1.8tn has been added to the debt so far, with a big chunk of new government spending dedicated to tariff refunds, which have totaled $100bn so far, according to the Bipartisan Policy Center.

Government spending watchdog groups have anticipated for weeks the US surpassing the $40tn threshold after debt reached $39tn in March.

“For perspective, it took nearly 200 years for America’s gross debt to reach $1 trillion for the first time in 1981,” said Maya MacGuineas, president of the Committee for a Responsible Federal Budget in a statement. “$40 trillion of debt doesn’t exist solely on the government’s ledgers; it is felt throughout the economy and finds its way to the pocketbooks of people one way or another. The more we borrow, the more we exacerbate inflation, squeeze out other priorities in the budget, and leave ourselves vulnerable to emergencies at home and turmoil abroad.”

The threshold was breached as Congress, currently out of session, remains at an impasse over its latest spending bill. The US House and Senate passed two different bills that would fund the federal government, which is scheduled to shut down on 30 September if a bill isn’t adopted by both chambers and signed by the president.

Earlier on Wednesday, the US treasury announced it would double its buyback of government debt after the bond market balked at ongoing inflation and continued conflict between the US and Iran. Though the move doesn’t increase the debt, it highlights the growing struggle the US is having in attracting investors to help take on its debt.


https://www.theguardian.com/us-news/2026/aug/19/us-debt-40-trillion

Just like how Nigeria's public debt jumped from ₦12.6 trillion at the end of 2015 with PDP to ₦159.35 trillion by March 2026 ($110.97B) under APC leadership.
Your Lord and saviour Tinubu increased Nigeria's debt from ₦49.85tn to ₦159tn+ despite removing subsidy on petrol, not spending money defending the naira, and partial subsidy removal on electricity. But last last na America own dey pain you. See how Trump is living in your head rent free.

Jakarta:
Just like how Nigeria's public debt rose from ₦12.6 trillion at the end of 2015 with PDP to ₦159.35 trillion by March 2026 ($110.97) under APC leadership.
Your Lord and saviour Tinubu increased Nigeria's debt from ₦49.85tn to ₦159tn+ despite removing subsidy on petrol, and partial subsidy removal on electricity. But last last na America own dey pain you. See how Trump is living in your head rent free.

Be grateful!

In USD, our debt is just $120bn and despite all, our debt is not ahead of our GDP.

US dept is already ahead of GDP with NOTHING to show for it. Not even speed train, public transport, universal health care or free tertiary education.

We taking about $40tn here and you still mentioning the crumbs we owe that we still have opportunity to confine and redue if we get to works

So don’t tell me we are not making progress ahead of the US in fiscal policies.

Trump alone account for 29% of debt. I mean, Trump tenure as president accounts for 29% of the total gross debt.

So you comparing His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR) policies with that of Trump is insulting and derogatory to our Nation and His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR).

HacheNoire:
Be grateful!

In USD, our debt is just $120bn and despite all, our debt is not ahead of our GDP.

US dept is already ahead of GDP with NOTHING to show for it. Not even speed train, public transport, universal health care or free tertiary education.

We taking about $40tn here and you still mentioning the crumbs we owe that we still have opportunity to confine and redue if we get to works

So don’t tell me we are not making progress ahead of the US in fiscal policies.

Trump alone account for 29% of debt. I mean, Trump tenure as president accounts for 29% of the total gross debt.

So you comparing His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR) policies with that of Trump is insulting and derogatory to our Nation and His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR).

See how you're being clever by half, since when did Nigeria started using USD as her official currency? “Our debt is not ahead of our GDP.”
Congratulations clap for yourself. Ogbeni do you even know what debt to GDP means? For your info Debt to GDP is not debt sustainability.
Nigeria's government has one of the weakest revenue to GDP positions among major economies. You should ask yourself
how much revenue does your government actually have available to service her debt?
A country can have a 50% debt to GDP ratio and still be in a worse fiscal position than a country with 100% if its government collects dramatically less revenue, which Nigeria is.

The United States has one of the world's largest highway and interstate systems, enormous airports and ports, public universities, medicare and medicaid, social security, military infrastructure, scientific institutions, research programmes, world class public transportation systems, dams, power infrastructure, the deepest government bond market on earth and the ability to borrow in its own currency at enormous scale, they issue the world's principal reserve currency which your bambiala government will die to have.

Ogbeni for the fact say US deny you and your families visas, and Trump send your brothers in arms to their non existent virgins no mean say you go open mouth wa dey yarn opata.

Jakarta:
See how you're being clever by half, since when did Nigeria started using USD as her official currency? “Our debt is not ahead of our GDP.”
Congratulations clap for yourself. Ogbeni do you even know what debt to GDP means? For your info Debt to GDP is not debt sustainability.
Nigeria's government has one of the weakest revenue to GDP positions among major economies. You should ask yourself
how much revenue does your government actually have available to service her debt?
A country can have a 50% debt to GDP ratio and still be in a worse fiscal position than a country with 100% if its government collects dramatically less revenue, which Nigeria is.

The United States has one of the world's largest highway and interstate systems, enormous airports and ports, public universities, medicare and medicaid, social security, military infrastructure, scientific institutions, research programmes, world class public transportation systems, dams, power infrastructure, the deepest government bond market on earth and the ability to borrow in its own currency at enormous scale, they issue the world's principal reserve currency which your bambiala government will die to have.

Ogbeni for the fact say US deny you and your families visas, and Trump send your brothers in arms to their non existent virgins no mean say you go open mouth wa dey yarn opata.

Hello, we trade in USD and not Naira. Do I have to enlighten you about that?

Other countries don’t have all you listed and it’s only the US that has such. You didn’t even add that, they are the biggest debtors.

There he goes again! Visa!

Is Visa a pass to good life? Or don’t we have broke people living pay check to pay check in US or going bankrupt because of medical debt.

Look at how much you adore and worship a US visa.

smh…..

HacheNoire:
Hello, we trade in USD and not Naira. Do I have to enlighten you about that?

Other countries don’t have all you listed and it’s only the US that has such. You didn’t even add that, they are the biggest debtors.

There he goes again! Visa!

Is Visa a pass to good life? Or don’t we have broke people living pay check to pay check in US or going bankrupt because of medical debt.

Look at how much you adore and worship a US visa.

smh…..

Ogbeni for the fact that we trade in USD doesn't mean Nigeria's official currency is USD. You are comparing Nigeria's debt with America's debt while pretending the two governments have the same economic and fiscal capacity, when they clearly don't. The U.S still has the world's largest economy, enormous tax revenues, deep capital markets and issues the world's dominant reserve currency, no country comes close on these.
If Nigeria's fiscal policy is superior to the US, show us the revenue to GDP, debt service to revenue and debt sustainability figures that proves it. “We trade in dollars” isn't an answer. Your Bambiala government still borrows from institutions that the US government controls. Ogbeni bring stats and facts no be chochocho, Trump go continue to send ur brodals to una non existent virgins if you like cry ur eye pull.

Jakarta:
See how you're being clever by half, since when did Nigeria started using USD as her official currency? “Our debt is not ahead of our GDP.”
Congratulations clap for yourself. Ogbeni do you even know what debt to GDP means? For your info Debt to GDP is not debt sustainability.
Nigeria's government has one of the weakest revenue to GDP positions among major economies. You should ask yourself
how much revenue does your government actually have available to service her debt?
A country can have a 50% debt to GDP ratio and still be in a worse fiscal position than a country with 100% if its government collects dramatically less revenue, which Nigeria is.

The United States has one of the world's largest highway and interstate systems, enormous airports and ports, public universities, medicare and medicaid, social security, military infrastructure, scientific institutions, research programmes, world class public transportation systems, dams, power infrastructure, the deepest government bond market on earth and the ability to borrow in its own currency at enormous scale, they issue the world's principal reserve currency which your bambiala government will die to have.

Ogbeni for the fact say US deny you and your families visas, and Trump send your brothers in arms to their non existent virgins no mean say you go open mouth wa dey yarn opata.

You are not smart, even your god, Peter Obi, as dull as he is has long dropped this obsolete trick.

Nigeria uses Naira, yet you are always telling us how minimum wage is less than half a dollar. So Nigeria uses Naira when it suits a jaundiced narrative and same Nigeria will switch to Dollar when it suits another propaganda?

Does Nigeria borrow Naira? What is Nigeria owing? What is the Dollar equivalence of the 159 trillion Naira?

Jakarta:
Ogbeni for the fact that we trade in USD doesn't mean Nigeria's official currency is USD. You are comparing Nigeria's debt with America's debt while pretending the two governments have the same economic and fiscal capacity, when they clearly don't. The U.S still has the world's largest economy, enormous tax revenues, deep capital markets and issues the world's dominant reserve currency, no country comes close on these.
If Nigeria's fiscal policy is superior to the US, show us the revenue to GDP, debt service to revenue and debt sustainability figures that proves it. “We trade in dollars” isn't an answer. Your Bambiala government still borrows from institutions that the US government controls. Ogbeni bring stats and facts no be chochocho, Trump go continue to send ur brodals to una non existent virgins if you like cry ur eye pull.

Follow the numbers and stop using emotions to debate!

I am not mentally conquered by western or Arabian imperialism.

Nigeria’s debt to GDP is just at about 35%, can you tell us where that of the US here?

You think you talking to an unenlightened person.

Anyways, don’t sham our great country because we are not big debtors. High chances are there that we will be greater that the US by the time we get to $40tn debt.

China did wonders with less than half of that so we can also do miracles with $40tn.

Where is the US borrowing from? Is not debt that they are selling which nations and investors are now dumping?

With $40tn debt, no way we won’t become a super power!

So stop celebrating a nation who has mortgaged the future of her unborn citizens. As of date, every American now owes roughly $30,000.

Just like how Nigeria's public debt jumped from ₦12.6 trillion at the end of 2015 with PDP to ₦159.35 trillion by March 2026 ($110.97B) under APC leadership....


So nothing mega....

Na same yardstick America carry

HacheNoire:
Follow the numbers and stop using emotions to debate!

I am not mentally conquered by western or Arabian imperialism.

Nigeria’s debt to GDP is just at about 35%, can you tell us where that of the US here?

You think you talking to an unenlightened person.

Anyways, don’t sham our great country because we are not big debtors. High chances are there that we will be greater that the US by the time we get to $40tn debt.

China did wonders with less than half of that so we can also do miracles with $40tn.

Where is the US borrowing from? Is not debt that they are selling which nations and investors are now dumping?

With $40tn debt, no way we won’t become a super power!

So stop celebrating a nation who has mortgaged the future of her unborn citizens. As of date, every American now owes roughly $30,000.

You are not enlightened if you are you will not compare a country who uses over 53% of its revenue just to service debts VS that of a country who uses just around 18% for something and has everything to show for it. Does every American owing $30000 makes every Nigeria debt free, are you aware that every Nigerian is owing ₦724000 with borrowings still going on as we speak? Such a huge debt and yet they still shout up NEPA whenever power is being restored.

Yes, America borrows by selling treasury securities. That's literally how sovereign borrowing works. Investors buying U.S. treasuries aren't simply “nations dumping money into America”; they're buying one of the world's most liquid government securities. The fact that investors continue to buy them is evidence of demand for U.S. government debt, not evidence that America has somehow been conquered by its creditors.


China didn't become China because it borrowed money, it was because they had stiff punishment for public office holders who loot her treasury, going by your China's logic your Lord and saviour together with his APC crew won't be alive today, they would have been hanged long ago.

With $40tn debt, a #1.3B budgets for a non existent agency, will look like a child's play. Previous governments paid subsidy, defended the naira, yet still borrowed less compared to your boro boro government that has turned borrowing to an hobby with nothing to show for it. You dey talk of American future being mortgaged, and forget say your own future has been looted. Ogbeni you go cry better cry, I dey arrange buckets for your tears collection.

Jakarta:
You are not enlightened if you are you will not compare a country who uses over 53% of its revenue just to service debts VS that of a country who uses just around 18% for something and has everything to show for it. Does every American owing $30000 makes every Nigeria debt free, are you aware that every Nigerian is owing ₦724000 with borrowings still going on as we speak? Such a huge debt and yet they still shout up NEPA whenever power is being restored.

Yes, America borrows by selling treasury securities. That's literally how sovereign borrowing works. Investors buying U.S. treasuries aren't simply “nations dumping money into America”; they're buying one of the world's most liquid government securities. The fact that investors continue to buy them is evidence of demand for U.S. government debt, not evidence that America has somehow been conquered by its creditors.


China didn't become China because it borrowed money, it was because they had stiff punishment for public office holders who loot her treasury, going by your China's logic your Lord and saviour together with his APC crew won't be alive today, they would have been hanged long ago.

With $40tn debt, a #1.3B budgets for a non existent agency, will look like a child's play. Previous governments paid subsidy, defended the naira, yet still borrowed less compared to your boro boro government that has turned borrowing to an hobby with nothing to show for it. You dey talk of American future being mortgaged, and forget say your own future has been looted. Ogbeni you go cry better cry, I dey arrange buckets for your tears collection.

Damn!

It shall never be well with imperialism, colonization and religion!

Look at a black man defending $40tn debt of the USA and condemning $120bn of Nigeria, even when Nigerias debt as not surpassed GDP and that of the US has.

It’s really a sad time in history.

HacheNoire:
Damn!

It shall never be well with imperialism, colonization and religion!

Look at a black man defending $40tn debt of the USA and condemning $120bn of Nigeria, even when Nigerias debt as not surpassed GDP and that of the US has.

It’s really a sad time in history.

Ogbeni nobody is defending US debt, the point is you should be more worried as a Nigerian, whose country uses over 53% of her revenue to service debts, loot carelessly what remains while critical infrastructure and citizen well being are left at the mercy of looting leftovers. Instead of worrying about a far US, who is more aware of the existence of a malaria causing mosquito than he/she. Imperialism didn't invent arithmetic, commot the forest wey dey your own eyes first, before you talk of others own. Trump and US go continue to dictate the functionalities of that 🧠.

Jakarta:
Ogbeni nobody is defending US debt, the point is you should be more worried as a Nigerian, whose country uses over 53% of her revenue to service debts, loot carelessly what remains while critical infrastructure and citizen well being are left at the mercy of looting leftovers. Instead of worrying about a far US, who is more aware of the existence of a malaria causing mosquito than he/she. Imperialism didn't invent arithmetic, commot the forest wey dey your own eyes first, before you talk of others own. Trump and US go continue to dictate the functionalities of that 🧠.

The fact is that, as at where we stand now, we are not massively indebted like the US and have not spent the future far ahead of time.

We are still in position to make sharp turns!

You don’t know better than nations and investors dumping US debt.

They interfere in our matters to so I have a right to interfere. Like people like you will always say to rubbish our great nation that “In saner climes “

Saner climes is now $40tn in debt and you don’t want us to talk about it🤣😂😂

That is more than the total debt of the EU😳

Oh! The EU is not developed. They don’t have healthcare l, education, security and work life balance. They don’t even have freedom and that’s what America bought with $40tn

Now you understand why they're going around stealing other countries resources.

The Venezuela elected president was kidnapped just to be able to steal their oil. Just two days, they have ordered for the gold worth over Two billion dollars in the UK to be moved to the USA.

Iran was labeled many names just because they didn't allowed them to steal their resources.

HacheNoire:
The fact is that, as at where we stand now, we are not massively indebted like the US and have not spent the future far ahead of time.

We are still in position to make sharp turns!

You don’t know better than nations and investors dumping US debt.

They interfere in our matters to so I have a right to interfere. Like people like you will always say to rubbish our great nation that “In saner climes “

Saner climes is now $40tn in debt and you don’t want us to talk about it🤣😂😂

That is more than the total debt of the EU😳

Oh! The EU is not developed. They don’t have healthcare l, education, security and work life balance. They don’t even have freedom and that’s what America bought with $40tn

It took Nigeria 55 years of independence to accumulate ₦12T in debt (1960 - 2015). Your APC government borrowed over ₦146T in just 11 years, even the 11 years ended in March 2026, the remaining part of the year has not been added oh!!

Even with the removal of subsidy, floating of the naira, increasing customs duty, increasing electricity tariff, increasing VAT your lord and saviour still added over ₦71T to Nigeria's debt in just 33 months with nothing to show for it.

In 2025, the Nigeria government used ₦12.52tn to service debts, from a revenue of ₦18.63tn. That's using a whopping 67.2% of your nations revenue just to service debts. Let's not even talk about the % that was looted. Same US that is living in your head rent free, used approximately $970bn to service debts from a revenue of over $5T in same period, that's a little over a mere 18% of her revenue to service debt. But Na US debt they bother u, you need buckets for tears collection? You go wail and cry tire because the US mission of sending your brothers to their non existent virgins no dey end soon.

We are still in better position Oga!

You don’t know more that US financial analysts who are predicting doom

Nigeria has been getting praises for its economic turn around has every indices points towards growth.

We are still redeemable, the US is not! Jobs and manufacturing are been outsourced to other countries in record numbers.

When I stated US Debt is already higher than GDP, did you dispute that?

Don’t even let us talk of consumer debt. Everyone is a debtor in the country. All have spent their future and in shackles of debt.

Our own economy is real. It’s not a debt system. We don’t spend the future and hand it off to our kids.

$40 trillion and still defending rubbish but condemning his country with $120bn that has vast resources yet to be exploited.

Even the interest US pays on her debt is more than the entire debt of Africa 😂🤣😂. Interest only o, not principal.

What even makes you think I am a Muslim? You Naralanders never cease to amaze. Every uncivilized sets. Their debate is either tied to religion or tribe.

HacheNoire:
We are still in better position Oga!

You don’t know more that US financial analysts who are predicting doom

Nigeria has been getting praises for its economic turn around has every indices points towards growth.

We are still redeemable, the US is not! Jobs and manufacturing are been outsourced to other countries in record numbers.

When I stated US Debt is already higher than GDP, did you dispute that?

Don’t even let us talk of consumer debt. Everyone is a debtor in the country. All have spent their future and in shackles of debt.

Our own economy is real. It’s not a debt system. We don’t spend the future and hand it off to our kids.

$40 trillion and still defending rubbish but condemning his country with $120bn that has vast resources yet to be exploited.

Even the interest US pays on her debt is more than the entire debt of Africa 😂🤣😂. Interest only o, not principal.

What even makes you think I am a Muslim? You Naralanders never cease to amaze. Every uncivilized sets. Their debate is either tied to religion or tribe.

You keep exposing your financial ignorance, you asked whether I dispute that US debt is higher than GDP. No, I don't. The US debt to GDP ratio being above 100% is a fact. But what exactly do you think that proves?

Japan has had debt to GDP of over 220% for years, but they still remain the world's 4th largest economy, show me any of the top 5 world's largest economies that has a debt to GDP ratio lower than 60%. But you know what? none of them have a debt to revenue ratio higher than 20% unlike your country's 67%.

Debt to GDP alone does not tell you whether a government can service its obligations.You keep ignoring the metric I actually raised. Why are you avoiding it like a plaque?

In the first nine months of 2025, your lord and saviour spent ₦12.52tn servicing debt against ₦18.63tn in FG revenue, that's about 67.2% that's an enormous fiscal burden.
A man that earns #100k monthly and uses over ₦67k just to service his debts, but want to take panaldo for the headache of a man that earns same ₦100k and uses just #18k to service his debts will be considered an abnormal being, battling inferiority complex.

As for your religion and tribal rants, are you indirectly saying that the religion you mentioned is synonymous with anything terrorism, so dem really promise dem virgins? Ogbeni you need a factory resetting slap.

Jakarta:
You keep exposing your financial ignorance, you asked whether I dispute that US debt is higher than GDP. No, I don't. The US debt to GDP ratio being above 100% is a fact. But what exactly do you think that proves?

Japan has had debt to GDP of over 220% for years, but they still remain the world's 4th largest economy, show me any of the top 5 world's largest economies that has a debt to GDP ratio lower than 60%. But you know what? none of them have a debt to revenue ratio higher than 20% unlike your country's 67%.

Debt to GDP alone does not tell you whether a government can service its obligations.You keep ignoring the metric I actually raised. Why are you avoiding it like a plaque?

In the first nine months of 2025, your lord and saviour spent ₦12.52tn servicing debt against ₦18.63tn in FG revenue, that's about 67.2% that's an enormous fiscal burden.
A man that earns #100k monthly and uses over ₦67k just to service his debts, but want to take panaldo for the headache of a man that earns same ₦100k and uses just #18k to service his debts will be considered an abnormal being, battling inferiority complex.

As for your religion and tribal rants, are you indirectly saying that the religion you mentioned is synonymous with anything terrorism, so dem really promise dem virgins? Ogbeni you need a factory resetting slap.

Servicing our debt and knocking it off is clearly feasible. It is just $120bn. A revival of steel and mining can knock it off easily!

Where does the US want to start with $40tn? With whole oil being stolen from Venezuela, the debt keeps increasing. Now, they demanding for Benezuelan gold from UK. Can you see now that even with stealing, they can’t pay of that debt!

No feasible path to pay off $40tn.

Common $120bn that some individuals in Nigeria will even knock off, but that is not even on our tab.

Oga, The US is massive debt. Both the people and government are all debtors!

HacheNoire:
Servicing our debt and knocking it off is clearly feasible. It is just $120bn. A revival of steel and mining can knock it off easily!

Where does the US want to start with $40tn? With whole oil being stolen from Venezuela, the debt keeps increasing. Now, they demanding for Benezuelan gold from UK. Can you see now that even with stealing, they can’t pay of that debt!

No feasible path to pay off $40tn.

Common $120bn that some individuals in Nigeria will even knock off, but that is not even on our tab.

Oga, The US is massive debt. Both the people and government are all debtors!

If wishes were horses, everybody would ride. You call $120B common, yet your bambiala Boro Boro government keeps borrowing.

Jakarta:
If wishes were horses, everybody would ride. You call $120B common, yet your bambiala Boro Boro government keeps borrowing.

Relax!

We investing in infrastructure and human capital. It will yield positive outcomes.

His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR) is in charge

HacheNoire:
Relax!

We investing in infrastructure and human capital. It will yield positive outcomes.

His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR) is in charge

By budgeting ₦1.3B for non existing agencies Abi? Same PBAT whose under his watch NNPCL spent over ₦7T on energy security expenses despite the removal of subsidy?