US national debt surpasses $38 trillion
Amid a federal government shutdown, the United States’ gross national debt has surpassed $38 trillion for the first time, according to the latest Treasury Department report.
This record underscores the accelerating pace of debt accumulation in the nation’s finances, News.Az reports, citing AP.
The U.S. reached $37 trillion in August 2025, making this the fastest increase of a trillion dollars outside the COVID-19 pandemic period. Daily Treasury data tracks the nation’s spending and borrowing, revealing the growing financial pressures on America’s economy.
Rising debt carries direct consequences for everyday Americans. The Government Accountability Office notes it can lead to higher borrowing costs for mortgages and car loans, lower wages as businesses have less capital to invest, and increased prices for goods and services. The Joint Economic Committee estimates that the national debt has grown by $69,713 per second over the past year.
The pace of debt growth has been dramatic: the U.S. hit $34 trillion in January 2024, $35 trillion in July 2024, and $36 trillion in November 2024, highlighting a steady climb in borrowing even before reaching this latest milestone.
Economists warn that without changes to spending or revenue, the U.S. faces increasing financial strain, potentially affecting everything from interest rates to the country’s long-term economic stability.
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