By Mucahithan Avcioglu
ISTANBUL (AA) - The total public debt of the US reached a record $37 trillion, surpassing the $36 trillion mark reached in November 2024.
Data from the Treasury Department showed total public debt outstanding hit $37.005 trillion on Tuesday.
Less than eight months after it first crossed the $36 trillion debt mark in late November 2024, it has reached the $37 trillion debt milestone.
Meanwhile, $35 trillion was reached in late July 2024.
As the total amount of public debt, a measure preferred by economists that does not include debt held in intragovernmental accounts such as the Social Security trust funds, is predicted to reach 99% of the GDP this year, according to Fox Business.