Rapid escalation from $36 trillion in just three months reflects ongoing fiscal deficits in the U.S.
The United States (U.S.) national debt has surged past an unprecedented threshold of $38 trillion, an alarming marker of the growing fiscal imbalance in the world’s largest economy. According to the latest report from the U.S. Department of the Treasury, the debt reached approximately $38.02 trillion, marking a historic high in the country’s borrowing levels.
This staggering figure equates to roughly $111,000 owed per person in the United States, underscoring the significant financial burden carried by every individual citizen. The Peter G. Peterson Foundation, a Washington, D.C.-based think tank, contextualizes this sum by comparing it to the combined economic output of the world’s five largest economies after the U.S.: China, India, Japan, Germany, and the United Kingdom. This comparison highlights the vast scale of the U.S….
