The United States has crossed a new and alarming milestone, with the national debt now standing at $37.0 trillion for the first time in history, according to data from the US Treasury Department.

The surge comes shortly after the debt ceiling was lifted following the signing of the "One Big Beautiful Bill Act" into law on July 4th. Since then, the national debt has soared by about $780 billion — averaging an extraordinary $22 billion in new borrowing every single day.

The US Treasury ramped up borrowing aggressively last week, selling $724 billion worth of Treasuries across 10 separate auctions.

Looking at the broader trend, the debt chart shows several sharp jumps immediately after debt ceiling increases, followed by steady upward climbs. Since the pandemic began in early 2020, total US debt has skyrocketed by nearly $14 trillion, moving from around $23 trillion to today’s record level.

The pattern is unmistakable:

2018–2019: Gradual increase from around $20 trillion to $22 trillion.

2020: Sharp spike as pandemic stimulus measures took effect.

2021–2022: Continued rapid climb, breaking $30 trillion.

2023–2024: More debt ceiling suspensions, followed by steep increases.

2025: Breach of the $37 trillion mark, with the chart’s arrow pointing to “Debt out the wazoo.”

The cost of carrying this enormous debt load is staggering. The US now spends nearly $3 billion per day on interest payments alone, consuming an ever-growing share of federal revenues.

The trajectory clearly signals an unsustainable fiscal path. Without serious reforms, the combination of relentless borrowing, rising interest costs, and periodic debt ceiling showdowns could push the US into an even deeper fiscal crisis in the coming years.