U.S. national debt reach record-high

The U.S. federal government debt has for the first time in its history crossed the level of $37 trillion, according to the U.S. Department of the Treasury.

The total outstanding government debt amounted to $37,004,817,625,842.56 as of August 11, the Treasury said.

The U.S. hit $34 trillion in debt in January 2024, $35 trillion in July 2024 and $36 trillion in November 2024.

The national debt eclipsed $37 trillion years sooner than pre-pandemic projections. The Congressional Budget Office’s January 2020 projections had gross federal debt eclipsing $37 trillion after fiscal year 2030. But the debt grew faster than expected.