Total U.S. National Debt Surpasses $37 Trillion for the First Time

According to a report by Jinse Finance, on August 12 local time, the total U.S. national debt surpassed $37 trillion for the first time, as the federal government continues to accumulate debt at a record pace. The latest data released by the U.S. Treasury Department shows that as of that afternoon, the total U.S. national debt had reached $37,004,817,625,842. Maya MacGuineas, president of the Committee for a Responsible Federal Budget, commented that the U.S. fiscal situation is severely out of balance, yet Congress continues to make matters worse.