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Story summary
- U.S. President Donald Trump oversaw an $11.6 trillion increase in the national debt during his two terms.
- The national debt reached $40 trillion, hitting that level earlier than forecasters expected.
- Economists attribute the surge mainly to Republican tax cuts for the wealthy and costly Middle-East wars.
- Rep. Chris Deluzio (D-Pa.) reported that interest on the debt now exceeds military and Medicare spending.
