The US national debt has surpassed $37 trillion, years ahead of projections. This record high is attributed to increased borrowing during the COVID-19 pandemic and recent tax cuts. The soaring debt is expected to worsen, despite administration claims that economic growth and tariffs will offset the costs. Economists warn of rising interest rates, reduced private investment, and increased costs for consumers and businesses due to the growing debt.

Prepared by Christopher Adams and reviewed by editorial team.