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Just the Facts, from multiple news sources.

U.S. hits $38 trillion in debt, after the fastest accumulation of $1 trillion outside of the pandemic

U.S. hits $38 trillion in debt, after the fastest accumulation of $1 trillion outside of the pandemic

October 23, 2025 • Business

Summary

The U.S. government's national debt has reached $38 trillion as of Wednesday, which is a record amount. This figure was reached quickly, outside of the rapid debt increase seen during the COVID-19 pandemic. The rising national debt may lead to higher inflation and increased borrowing costs.

Key Facts

  • The U.S. government's debt is now over $38 trillion.
  • The debt hit $37 trillion just last month, August 2024.
  • During President Trump's first eight months of his current term, the deficit decreased by $350 billion compared to the same period last year.
  • Rising national debt can lead to higher inflation and increased borrowing costs for Americans.
  • The national debt has been increasing at a rate of $69,713.82 per second in the past year.
  • Interest on debt spending may grow to $14 trillion in the next decade according to projections.
  • The Trump administration claims its policies are slowing government spending.

Source Information

PBS NewsHour