Treasury Department confirms US has surpassed $37 trillion in debt

The Treasury Department on Tuesday confirmed that the United States has exceeded $37 trillion in debt, just months after it surpassed $36 trillion.

The new report found that the U.S. exceeded the benchmark years before it was projected to, prior to the COVID-19 pandemic. Before the pandemic in 2020, the country expected to surpass $37 trillion in debt sometime after 2030, the Associated Press reported.

The benchmark comes after the U.S. passed the $36 trillion debt threshold in November. It also confirms reports last month that the debt surpassed $37 trillion based on the U.S. Debt clock.

The United States also reached $34 trillion in debt in January 2024 and $35 trillion in July 2024. 

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