The US national debt for the first time in history has exceeded $37 trillion, according to data from the Treasury Department. As of August 11, the total amount amounted to $37,004,817,625,842.56, NBC News reports, quoted by BTA.
In April, the Treasury Department announced an increase in the national debt ceiling, which provided the opportunity for its increase for the next two years.
The value of the US debt exceeded $35 trillion for the first time in July 2024. According to the US Congressional Budget Office, by 2034 the debt could reach $50.7 trillion, or 122% of the country's GDP. The debt-to-GDP ratio exceeded 100% in 2013 and has not fallen below that limit since.