National debt surpassed $37 trillion, per Treasury Department
The new all-time high was reached eight months after breaking the previous mark. Detractors of the government took aim at the BBB.
Treasury Secretary Scott Bessent
The gross national debt surpassed $37 trillion dollars, setting a new record high. That's according to the latest Treasury Department report, which on Tuesday reported the recent climb.
Per person in the country, debt topped $108,000, according to the Peterson Foundation. "Our national debt is now greater than the economies of the entire Eurozone and China, combined," its CEO, Michael A. Peterson, in a release. "We are now adding a trillion more to the national debt every 5 months. That’s more than twice as fast as the average rate over the last 25 years."
Just eight months earlier, at the end of November, the national debt had surpassed the $37 trillion ceiling. Five months earlier, in July, it surpassed the record $35 trillion.
"The public debt outstanding grew 30% during the Biden administration and interest costs skyrocketed due to the inflationary policies of the last administration," an administration official argued in statements to The New York Post. "Today, the deficit is already seeing benefits from President Trump’s policies, most notably the first June surplus in years."
Both Democrats and even some Republicans came out, however, to point fingers at the GOP, especially over its budget bill. Rep. Thomas Massie, one of the Republicans who voted against it, wrote that "thanks to the One Big Beautiful Bill Act, the debt just officially passed the $37 trillion mark."
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