U.S. National Debt Grows by $1 Trillion in Less Than a Year, Hits Record $37 Trillion

The U.S. national debt has risen by $1 trillion in less than a year, reaching a record $37 trillion according to Treasury Department data released Tuesday. The previous high was $36 trillion in November 2024.

Pre-pandemic estimates from the Congressional Budget Office projected the debt would not surpass $37 trillion until after fiscal 2030. The milestone now comes just over six months into President Donald Trump’s second term, during which several major spending measures have been enacted. These include the “One Big Beautiful Bill Act,” which the CBO estimates will add $3.4 trillion to the debt over the next decade.

Michael Peterson, CEO of the Peter G. Peterson Foundation, noted that the U.S. is adding $1 trillion to the debt every five months — more than twice the average rate over the past 25 years. He said the national debt now exceeds the combined economies of the Eurozone and China.

Sources:

• Washington Examiner

• Treasury Department