The U.S. national debt has topped $38 trillion for the first time, according to Treasury Department data, as the government shutdown stretches on and hundreds of thousands of federal employees go unpaid. Economists say shutdowns delay fiscal decisions and add billions in costs, worsening the deficit.
The U.S. hit $34 trillion in debt in January 2024, $35 trillion in July 2024 and $36 trillion in November 2024. https://t.co/1VW9oSK2OG
— 13 Action News (@13abc) October 23, 2025
Fiscal watchdogs, including the Peter G. Peterson Foundation and the Committee for a Responsible Federal Budget, warned that Washington’s dysfunction has become “routine,” with debt rising by a trillion dollars every few months.
Interest payments are projected to triple to $14 trillion over the next decade, crowding out private investment and public programs.
JUST IN 🚨 US NATIONAL DEBT JUST HIT A NEW ATH OF $38,000,000,000,000 pic.twitter.com/Su5oTOYGGD
— CryptoSavingExpert ® (@CryptoSavingExp) October 23, 2025
Despite the spike, the Trump administration defended its fiscal record, saying spending cuts and higher revenues have reduced the deficit by $350 billion compared to last year.
America’s Golden Age is underway, and the best is yet to come.
— Treasury Secretary Scott Bessent (@SecScottBessent) October 23, 2025
Inflation is down. Energy prices are down. And real wages are up.
In 2026, working Americans will see bigger refunds and higher take-home pay thanks to President Trump and the One Big Beautiful Bill. pic.twitter.com/EHhFujDUvk
Treasury Secretary Scott Bessent said the deficit is now at its lowest since 2019, crediting efforts to control waste and inflation.
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