Former UN Ambassador Nikki Haley is sounding the alarm on Social Security's future as the U.S. national debt blows past $40 trillion, adding to growing worries about the government's fiscal health.

Haley Warns of Social Security Crisis

On Wednesday, Haley took to X to share a CNBC report about the latest debt milestone, writing, "Social Security will go bankrupt in 5 years [affecting] 75 million Americans."

"You can’t blink away this growth in our debt," she added. "This is past a crisis situation and needs to be a top priority for every elected official."

Her comments come as the Treasury Department reports the national debt has hit about $40.05 trillion.

US Debt Tops $40 Trillion

The U.S. government's debt has climbed from $19.4 trillion a decade ago to $40.05 trillion now, fueled by years of large budget deficits and pandemic-era spending.

The government posted a $432.3 billion deficit in July, and the year-to-date shortfall is approaching $1.8 trillion.

This rising debt and deficit spending have pushed Treasury yields and borrowing costs higher. Interest payments on the national debt have reached nearly $1.2 trillion this year, making them the largest federal budget expense after Social Security and Medicare.

Debt Concerns Raise Inflation and Spending Alarms

The 30-year Treasury yield hit 5.323%, a 19-year high, as investors weigh inflation, federal deficits, and rising government borrowing. Consumer prices rose 3.4% year over year in July.

Last week, Sen. Rand Paul (R-Ky.) criticized the record $432 billion July budget deficit, saying the government was spending money "that we don’t have." He also warned against additional spending as the national debt neared $40 trillion.

Economist Peter Schiff warned that rising debt could fuel higher consumer prices, predicting the Federal Reserve could create more money to purchase Treasuries. His warning came after U.S. debt surpassed 100% of GDP, raising concerns over the potential inflationary impact of the growing fiscal burden.

Trump Defended Rising US Debt

Earlier, President Donald Trump defended the rising national debt, arguing that America’s total assets were worth hundreds of trillions of dollars. He also supported government equity stakes in companies and had previously pointed to tariff revenue and foreign investment as ways to address the debt, which had surpassed 100% of GDP.

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