WASHINGTON, Aug. 19 -- The House Budget Committee issued the following press release:
WASHINGTON, D.C. - The U.S. national debt has officially surpassed $40 trillion, marking another staggering milestone in America's fiscal crisis. House Budget Chairman Jodey Arrington (R-Texas) released the following statement:
"America's debt has reached $40,000,000,000,000. It took nearly 200 years to accumulate the first $1 trillion. Now, we add that much debt in less than five months. In fact, the federal government borrows $6 billion per day, over half of which is interest on the debt we already have-more than we budget for our entire national defense.
"Our national debt continues to pose an existential threat to the future of our nation. We are mo...