The US national debt has increased by a record $358 billion in just the last two days, according to data from the finance ministries of both countries.
In the United States, the federal government's fiscal year runs from October 1 to September 30. On the last day of the old fiscal year, the national debt increased by $131 billion, but on the first day of the new year, it had already increased by another $226.5 billion. As a result, the US national debt reached a record $37.86 trillion.
This change in the fiscal year was the most expensive in the history of the US national debt. In 2024, the increase in sovereign debt since the beginning of the fiscal year was $347.6 billion in two days.
In August of this year, it was reported that the US national debt exceeded $37 trillion for the first time in history. It increased by $6 billion in three days.
Previously, the International Monetary Fund called the US national debt the biggest threat to the global economy. According to preliminary forecasts, by 2032, the national debt could exceed 140 percent of the country's GDP.