U.S. national debt reaches record $37 trillion

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