Donald Trump sinks to the lowest approval rating of his presidency as the national debt tops $40 trillion for the first time ever

President Donald Trump is facing the weakest approval numbers of his presidency just as the U.S. national debt crossed the $40 trillion mark for the first time. A recent Reuters/Ipsos poll put the overall approval of Trump’s performance at 33%, with 64% disapproving, the lowest approval rating recorded for him by the survey. The combination of worsening economic sentiment and a record debt burden creates a difficult political backdrop for Trump and Republicans as the 2026 midterm elections approach.

Donald Trump hits new polling low

The Reuters/Ipsos survey, conducted August 14-17 among 1,166 U.S. adults, found Trump’s approval at 33%, compared with 64% disapproval, with a 3-point margin of error. When asked by the survey which party voters trust more to handle the economy, Democrats narrowly led Republicans by 38% to 35%. Trump’s economic numbers were similarly weak, as 29% approved of his handling of the economy, while 64% disapproved.

Earlier surveys showed the same pattern. An NPR/PBS News/Marist poll in June recorded 33% approval and 60% disapproval of Trump’s economic performance, while a The Economist/YouGov survey earlier this month found 30% approval and 65% disapproval.

Federal debt crosses $40 trillion

According to reports, recent Treasury data shows total outstanding federal debt reaching about $40.05 trillion, comprising roughly $32.27 trillion held by the public and $7.78 trillion in intragovernmental holdings. The total has more than doubled since 2017, with Reuters reporting that the increase reflects pandemic spending, persistent deficits and policy decisions under multiple administrations.

The milestone reflects decades of borrowing rather than the actions of a single president. Congress controls taxation and spending, while major obligations include Social Security, Medicare and interest payments. Trump began his second term with federal debt at roughly $36.22 trillion, meaning the total has increased by about $3.83 trillion during his current tenure.

Economists warn of mounting costs

Mark Williams, master finance lecturer at Boston University’s Questrom School of Business, said in a statement to Newsweek, “In surpassing $40 trillion in cumulative debt, the White House is ignoring basic economic fact: Greater debt eventually leads to higher interest costs and increased inflation. U.S. debt is also growing more rapidly than the country’s gross domestic product, demonstrating that mountainous debt levels are producing diminished economic benefit.”

Williams added that higher borrowing could increase financing costs, reduce consumer spending and slow economic growth. The Congressional Budget Office has predicted that debt held by the public will rise from 101% of GDP in 2026 to 120% in 2036, with net interest costs also increasing. 

Republicans demand action: ‘This is bad’

Florida Republican Sen. Rick Scott wrote on X, “Our national debt just hit 40 TRILLION DOLLARS! This is bad. Congress needs to get spending under control and BALANCE THE BUDGET. Americans deserve better.”

Florida Gov. Ron DeSantis also questioned the trajectory, writing, “In the mid-1990s the national debt was roughly $5 trillion and there was a push for a federal balanced budget amendment. In fact, the vote in the US Senate on the BBA fell just one vote shy of passage. Imagine how different the fiscal trajectory of the country would have been had that requirement been adopted? Would anyone have predicted at that time that 30 years later the debt would reach $40 trillion?”

While the debt milestone does not itself mean recession or higher inflation is inevitable, it adds to the fiscal and political pressures confronting Trump as the economy tops the list of voter concerns ahead of the midterms.