National debt reaches 37 trillion dollars, as soon as possible than prenatal expectations

37 trillion dollars updates were found in The latest report of the Ministry of Treasury It was issued on Tuesday, which registered the country’s daily finance.

National debt acquired 37 trillion years sooner than prenatal expectations. The expectations of the Congress Budget Office in January 2020 had a total federal debt 37 trillion dollars after the 2030 fiscal year. But the debts grew faster than expected due to the multi-year Covid-19s. Donald Trump And former President Joe Biden to achieve stability in the national economy and support recovery.

Now, more government spending has been approved after Trump signed the law Reducing Republican taxes and spending legislation Earlier this year. the law It is scheduled to add $ 4.1 trillion to the national debt during the next decade, according to the Congress Budget Office Estimates.

“Added interest rates to everyone and reducing private sector investments. Within the federal budget, debt crowds outperform important priorities and creates a more damaged cycle, more interest costs, and more pairing,” Michael Peterson, President and CEO of Peter Ji Pterson Foundation said in a statement.

“We will borrow a lot over the year 2026, we will borrow a lot over the course of 2027, and we will continue to continue,” said Windy Edelberg, an older colleague in economic studies at the Brookings Foundation.

the Government Accountability Office Some of the effects of government debt are determined on Americans – including high borrowing costs for things such as mortgages and cars, low wages of companies that have less funds available for investment, and the most expensive goods and services.

Peterson notes how a trillion dollar landmarks accumulate at a rapid rate.

Peterson said that the United States amounted to $ 34 trillion of debt in January 2024 and 35 trillion dollars in July 2024 and 36 trillion dollars in November 2024. “This is more than twice the average average rate over the past 25 years.”

Joint Economic Committee Estimates At the average current daily growth rate, a trillion dollars will be reached in about 173 days.

“We hope that this landmark will be sufficient to wake politicians to the fact that we need to do something, and we need to do so quickly,” Maya McGenias, Chairman of the Federal Budget Committee.