Jul 31, 2024, 4:53 PM

US national debt tops $35 trillion for first time: report

TEHRAN, Jul. 31 (MNA) – The US national debt topped a psychologically important milestone of $35 trillion in recent days and has risen by $1 trillion since January — mounting by nearly $5 billion every day so far in 2025.

This latest barrier was formally pierced last Friday. That's when a daily Treasury Department tabulation, which was then compiled and released late Monday, showed a gross debt level of $35.001278 trillion.

“This is crazy,” Tesla (TSLA) CEO Elon Musk noted in a post on X in one quick response to the news.

America’s red ink has now jumped by more than 75% during the Trump and Biden administrations, and yet the issue has been relegated to the back burner during the 2024 campaign season.

Not only that, deficit hawks warn, it's often been pushed aside in favor of ideas that could increase debt even further, finance, yahoo.com reported.

"The borrowing just keeps marching along, reckless and unyielding," Maya MacGuineas, president of the Committee for a Responsible Federal Budget, said in a statement.

"Despite all the risks and warning signs, these alarm bells seem to be falling on deaf ears," she added.

MA/PR

News ID 218761