U.S. Public Debt Hits Record High
(MENAFN) The United States has seen its total public debt climb to an all-time high of $37 trillion, surpassing the previous peak of $36 trillion reached in November 2024.
According to figures released by the Treasury Department, the total outstanding public debt amounted to $37.005 trillion as of Tuesday.
This increase follows a rapid rise, with the debt crossing the $36 trillion threshold less than eight months ago, in late November 2024, before advancing to the $37 trillion milestone.
Prior to these recent surges, the debt had already reached $35 trillion by late July 2024.
This measure of total public debt, which economists favor as it excludes amounts held in intragovernmental accounts such as the Social Security trust funds, is expected to climb to 99% of the nation's GDP this year, as reported by Fox Business.
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