US hits $38 trillion in debt, after the fastest accumulation of $1 trillion outside of the pandemic

[Yo_Mama_Been_Loggin]

Last edited Thu Oct 23, 2025, 01:50 AM - Edit history (1)

Source: AP

WASHINGTON (AP) — In the midst of a federal government shutdown, the U.S. government’s gross national debt surpassed $38 trillion Wednesday, a record number that highlights the accelerating accumulation of debt on America’s balance sheet.

It's also the fastest accumulation of a trillion dollars in debt outside of the COVID-19 pandemic — the U.S. hit $37 trillion in gross national debt in August this year.

The $38 trillion update is found in the latest Treasury Department report, which logs the nation’s daily finances.

Kent Smetters of the University of Pennsylvania’s Penn Wharton Budget Model, who served in President George W. Bush’s Treasury Department, told The Associated Press that a growing debt load over time leads ultimately to higher inflation, eroding Americans' purchasing power.

Read more: https://finance.yahoo.com/news/us-hits-38-trillion-debt-212347482.html

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Can we please end the myth that Republicans are fiscal conservatives and that Trump is a smart businessman?

[DallasNE]

1. As Bad As It Looks

It is even worse than it looks because the 2 months it took for $1T debt includes quarter end corporate tax filing. Plus, it includes Tariff income. This news then is terrible.

[Aussie105]

2. Rumour has it Trump was looking at carpet samples while his casino was going bankrupt.

This is the same, on a larger scale.

'Bankrupt a casino or two? Too easy! Watch me do the same to the whole country!' . . . says Trump.

The bats in his belfry chirp loudly and happily in agreement.

[FakeNoose]

8. Yes back then he frittered away his Dad's money

But now it's OUR money he's frittering away. Meanwhile at the same time, the grifting is gi-normous.
I'll bet Chump has doubled his own personal wealth since Jan. 1st of this year.

[Justice matters.]

3. That mentally-ill pedophile, fraudster and felon is going to bankrupt the US.

And nobody will stop him?

[llmart]

4. Putin is enjoying every minute of it.

He has played trump for the fool that he is.

[sinkingfeeling]

5. But, but TSF says we raked in $7 trillion from tariffs. So where has the money gone?

[republianmushroom]

6. While being "lead" by that fiscal reconcilable party Republicans.

That's what the call themselves but they do lie a lot.

[maxsolomon]

7. IOKIYAR.

I'm sure this will become an urgent issue if/when Dems regain power.