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How rising national debt can affect your finances
Yahoo Finance·2025-07-12 03:12

According to data released by the Treasury Department this week, the U.S. government’s gross national debt reached a record 38trillionjusttwomonthsafterhitting38 trillion — just two months after hitting 37 trillion — marking the fastest accumulation of 1trillionindebtoutsidetheCOVID19pandemic.Themilestonecomesasthegovernmentgrappleswithanongoingfederalshutdown.Andatthecurrentpace,expertswarnthetotalcouldclimbto1 trillion in debt outside the COVID-19 pandemic. The milestone comes as the government grapples with an ongoing federal shutdown. And at the current pace, experts warn the total could climb to 39 trillion within a matter of months. While the national debt may be hard to conceptualize, e ...