The U.S. national debt has reached an all-time high of $37 trillion, as reported by the Treasury Department. This stagge...

The U.S. national debt has reached an all-time high of $37 trillion, as reported by the Treasury Department. This staggering figure highlights the growing debt burden on the American economy and its taxpayers.
The national debt has exceeded the $37 trillion mark, years ahead of the Congressional Budget Office’s (CBO) pre-pandemic projections for 2030. The sharp rise in debt stems mainly from the multi-year COVID-19 pandemic that began in 2020, which led the federal government, under both Donald Trump and Joe Biden, to take on significant borrowing to support the national economy, Fortune reported.
Earlier this year, Trump approved the Republicans' tax cut and spending bill, authorizing additional government expenditure. The Congressional Budget Office estimates the law will add $4.1 trillion to the national debt over the next decade.
The Government Accountability Office warned that rising U.S. debt is driving up borrowing costs, suppressing wages, and increasing prices for goods and services. The nation is now adding $1 trillion to its debt every five months—over twice the average pace of the past 25 years, says Peter G. Peterson Foundation.
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