New data from the Treasury Department released showed that the gross national debt hit $37,004,817,625,842.56 on Tuesday afternoon.<\/p>\n
TREASURY’S BESSENT SAYS US IS \u2018NEVER GOING TO DEFAULT\u2019 AS DEBT LIMIT DEADLINE LOOMS<\/strong><\/a><\/p>\n The billboard in New York City has the message “Scared of the national debt? You should be.” (Committee to Unleash Prosperity)<\/p>\n The $37 trillion debt milestone comes less than eight months after the nation hit the $36 trillion threshold<\/a> for the first time in late November 2024, and a little over one year after the $35 trillion mark was reached in late July 2024.<\/p>\n The U.S. topping $37 trillion in total debt comes as the total debt held by the public \u2013 a metric favored by economists that excludes debt held in intragovernmental accounts like the Social Security trust funds \u2013 is projected to reach 99% of the size of the U.S. gross domestic product (GDP) this year.<\/p>\n Maya MacGuineas, president of the Committee for a Responsible Federal Budget (CRFB) reacted, telling Fox Business, “Reaching this milestone is a moment no one in Washington can be proud of \u2013 our fiscal situation is woefully unbalanced, yet Congress keeps on making the situation worse. Even when measuring debt as a share of the economy, we\u2019re headed toward record levels and on course to spend $1 trillion just on interest costs. We will need to act quickly to face the reality of our unsustainable debt, before a fiscal emergency forces our hand.”<\/p>\n A federal judge halted the Trump administration’s temporary federal funding freeze.<\/p>\n![\"New](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/08\/NYC-debt-billboard-2.png\")
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