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US National Debt Hits $38 Trillion Amid Fiscal Crisis

10/24/2025

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Summary

Story summary

The United States has surpassed $38 trillion in total national debt, a historic milestone.
The debt rose by $1 trillion in two months due to ongoing borrowing to cover Social Security and defense.
The debt is 324% of GDP, a level critics say raises inflation risk and household borrowing costs.
Calls for fiscal reforms grow as both parties contribute to rising debt levels.

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Story summary

The United States has surpassed $38 trillion in total national debt, a historic milestone.
The debt rose by $1 trillion in two months due to ongoing borrowing to cover Social Security and defense.
The debt is 324% of GDP, a level critics say raises inflation risk and household borrowing costs.
Calls for fiscal reforms grow as both parties contribute to rising debt levels.