US National Debt Tops $38 Trillion amid Fiscal Turmoil

DID Press: United States’ national debt has surpassed $38 trillion, a record high that highlights growing fiscal strain as the federal government remains partially shut down.

According to the U.S. Treasury, the debt rose by $1 trillion in less than two months, the fastest increase outside the pandemic era. Economists warn that unchecked borrowing could fuel inflation, raise interest rates, and erode Americans’ purchasing power.

Kenneth Smetters of the University of Pennsylvania said continued debt growth “will hit future generations hardest,” making homeownership and financial stability harder to achieve.

The GAO reports that rising debt could drive up loan and mortgage costs while depressing wages. Analysts estimate the national debt now grows by nearly $70,000 every second, underscoring what experts call an unsustainable fiscal path for the U.S. economy.