October 22, 2025
Article from Fox Business by Eric Revell
Article Synopsis
The U.S. national debt has surpassed $38 trillion for the first time, rising by $1 trillion in just over two months as government borrowing accelerates at a record pace. Experts cite rising entitlement costs, higher interest rates, and growing interest payments—estimated to reach $14 trillion over the next decade—as key drivers.
The Congressional Budget Office projects debt held by the public will climb from about 100% of GDP in 2025 to 120% by 2035, with annual deficits nearing $2.6 trillion. Economists warn that mounting interest costs could crowd out future investments and strain the broader economy.
