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The national debt eclipsed this new milestone years sooner than pre-pandemic projections. File.
| Photo Credit: Reuters
U.S. national debt reached record $37 trillion.
The national debt eclipsed this new milestone years sooner than pre-pandemic projections.
The Congressional Budget Office’s January 2020 projections predicted the U.S. reaching the milestone after fiscal year 2030.
But the debt grew faster than expected as the COVID-19 pandemic shut down much of the U.S. economy and the Trump and Biden administrations borrowed heavily to stabilise the national economy.
Published – August 13, 2025 06:21 pm IST
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U.S. national debt reaches record $37 trillion
