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National debt tops $40 trillion after doubling in less than a decade, Treasury data shows

The national debt topped $40 trillion, according to Treasury Department data released on Wednesday, representing a fiscal milestone that underscores the federal government’s mounting borrowing and interest costs.   The Treasury Department’s daily financial report shows that the nation’s debt reached $40.05 trillion on August 18, more than double its level in 2017. The federal debt has…

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Scandal-ridden Cory Mills ousted in GOP primary in Florida’s 7th District

Ryan Elijah defeated Trump-backed Rep. Cory Mills in the GOP primary in Florida’s 7th Congressional District on Tuesday as the congressman faces numerous scandals, The Associated Press projects.  The embattled two-term congressman, who faced three primary opponents, struggled to raise money for his reelection bid as the House Ethics Committee investigates numerous allegations against him. …

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IRS proposal would force nonprofits to disclose fraud or terrorism convictions of leaders

Washington — The Trump administration is weighing a proposal to require nonprofits to disclose in their annual tax filings whether their top officials have been convicted of certain financial or terrorism-related crimes, sources with direct knowledge of the matter told CBS News. The IRS disclosure requirement would be added to the Form 990, the annual…

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Trump orders scale-back of military exercises with South Korea after refusal to help with Iran’s denuclearization

President Trump announced Sunday that he has ordered the Pentagon to scale back joint military exercises with South Korea, saying that the country recently declined to join the U.S. effort to denuclearize Iran. Mr. Trump said on his Truth Social platform that the exercises are costly and they “send a signal that is totally inappropriate…

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Full transcript of “Face the Nation with Margaret Brennan,” Aug. 16, 2026

On this “Face the Nation with Margaret Brennan” broadcast, moderated by Ed O’Keefe:  Kentucky Gov. Andy Beshear, a Democrat  Rep. Don Bacon, Republican of Nebraska  Anthony Salvanto, CBS News executive director of elections and surveys  Pennsylvania state Rep. Chris Rabb Wall Street Journal reporter Sabrina Rodriguez, NOTUS reporter Paul Kane, The Atlantic staff writer Toluse…

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