The U.S. government’s gross national debt has surpassed $37 trillion, setting a new record. This highlights the rapid acceleration of debt on America’s balance sheet and the increasing cost pressures on taxpayers.

In January 2020, the CBO estimated that gross federal debt would not surpass $37 trillion until after fiscal year 2030.

Congress has spent more money than it has collected for the last two decades, allowing the U.S. debt to top $37 trillion for the first time.

The U.S. national debt has just crossed $37 trillion — and it happened years earlier than expected. In this video, we break down how America reached this historic milestone, what’s