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U.S. National Debt Reaches $37 Trillion Years Ahead of Projections

Experts warn the surge in debt driven by pandemic relief combined with recent tax cuts plus extra spending will push interest costs higher, threatening fiscal stability.

U.S. Treasury Secretary Scott Bessent listens as U.S. President Donald Trump delivers remarks during a bilateral lunch with Norway's Prime Minister Jonas Gahr Store in the Cabinet Room at the White House on April 24, 2025 in Washington, DC.
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President Trump has many plans to address national debt—but economists are split on how successful they'll be.

Overview

  • Treasury Department data recorded U.S. gross federal debt at $37,004,817,625,842.56 on August 12, reflecting an average addition of about $1 trillion every five months.
  • Accelerated borrowing for COVID-19 relief propelled the debt to this threshold far sooner than the Congressional Budget Office’s January 2020 forecast.
  • The 2025 Republican tax-cut and spending law is projected by the CBO to add roughly $4.1 trillion to federal debt over the next decade.
  • Public-held debt is set to approach about 99 percent of GDP this year, driving interest payments toward becoming one of the largest budgetary outlays.
  • Fiscal watchdogs urge bipartisan measures—from spending cuts to revenue increases—to stabilize the debt path as political leaders debate solutions.