Celebration Time ! The “good” news is US government’s gross national debt has just surpassed $37 trillion. It is a record breaking number that (a) highlights accelerating debt on America’s balance sheet and (b) increased cost pressures on taxpayers. The $37 trillion update can be found in US Treasury Department latest report that logs the nation’s daily finances; released on Tue, 12 Aug 2025. Root Causes. US national debt reached this level, 5 years earlier than US Congressional Budget Office’s January 2020 forecast of “after fiscal year 2030”. Truth be told, US debt has grown faster than expected due to the multi-year Covid-19 pandemic, that began in 2020 and shut down much of US economy very quickly. Under both presidents Trump & Biden, federal government borrowed heavily, to stabili