U.S. Government Debt Hits Record $35 Trillion as Lawmakers Clash Over Spending Cuts
WASHINGTON, D.C. — The U.S. national government debt has surpassed $35 trillion for the first time in history, according to new data released Monday by the Treasury Department. The milestone, which occurred at 11:30 a.m. Eastern Time, reflects a sustained increase in federal borrowing to fund entitlement programs, defense spending, and interest payments.
Treasury Secretary Janet Yellen confirmed the figure during a press briefing, attributing the rise to ongoing fiscal pressures. Lawmakers in both chambers are now embroiled in bitter debate over proposed spending reductions, with Republican leaders advocating for across-the-board cuts while Democrats push for targeted tax increases on corporations. The Congressional Budget Office projects that interest payments on the debt alone could exceed $1 trillion annually by 2025, intensifying calls for a bipartisan compromise. The development has sparked widespread concern among investors and economists, with some warning of potential credit rating downgrades.