National debt of the United States breaks new record, surpassing $37 trillion mark.

In a significant development, the U.S. national debt has reached a historic milestone, surpassing $37 trillion for the first time in history on Friday. This alarming figure, which was $36 trillion just a few months ago in late November 2024, has raised concerns among financial experts and policymakers alike.

Maya MacGuineas, the president of the Committee for a Responsible Federal Budget (CRFB), has been vocal about the growing debt. She stated that reaching $37 trillion in total debt is a moment no one in Washington should be proud of. MacGuineas, who held this position in 2024, also predicted that the U.S. is headed toward record levels of debt and will spend $1 trillion just on interest costs.

Michael A. Peterson, CEO of the Peter G. Robinson Foundation, shares similar concerns. He noted that the national debt surpassing $37 trillion sends a clear message about America's unsustainable fiscal path. Peterson further added that the national debt is now greater than the economies of the entire Eurozone and China, combined.

The rapid accumulation of debt has been a matter of concern for many. New data from the Treasury Department showed that the gross national debt hit $37,004,817,625,842.56 on Tuesday afternoon. The federal government continues to accumulate debt at a record-setting pace, with the total debt held by the public projected to reach 99% of the size of the U.S. gross domestic product (GDP) this year.

Amidst these concerns, some experts have proposed solutions. Peterson suggested that it's not too late to act and reform the budget to prevent further damage. He also highlighted that policymakers have many well-known options to stabilize the debt and put the U.S. on a stronger path for the next generation.

The growing debt has not gone unnoticed by rating agencies either. Moody's downgraded the US credit rating over rising debt.

In a recent interview, Maya MacGuineas discussed tariff revenue and how President Donald Trump's tax bill will affect the deficit on Mornings with Maria. However, there was no information provided about the Treasury's Bessent saying that the U.S. is 'never going to default' as the debt limit deadline looms.

As the U.S. grapples with this financial challenge, experts urge policymakers to take action and address the unsustainable fiscal path before it's too late.