US Federal Debt Tops $40.5 Trillion

US federal debt reached $40.59 trillion in late October, up from $39.39 trillion on July 1, according to Treasury Department data. That is roughly $1.2 trillion added in about four months, close to $10 billion a day. The government has leaned heavily on short-term bill auctions to cover the gap, keeping pressure on yields and bond proxies like $TLT.