US national debt increases by nearly $70 every second

With the US federal government still shut down, the country's total national debt officially surpassed the $38,000 billion threshold on October 22 (local time).

US public debt exceeds $38 trillion. (Source: Debt.org)

This is a worrying milestone, reflecting a rapid increase in debt unprecedented in US history outside the Covid-19 pandemic.

According to data from the US Treasury Department , in just two months since total debt reached $37 trillion in August 2025, the US has continued to borrow another $1 trillion. Notably, this debt growth rate has become an alarming trend.

Looking back at recent history, in less than 2 years, US public debt has increased by more than 4,000 billion USD, with notable milestones: January 2024 reached 34,000 billion USD; July 2024 reached 35,000 billion USD; November 2024 exceeded 36,000 billion USD; August 2025 reached 37,000 billion USD and most recently, October 2025 reached 38,000 billion USD.

According to the Joint Economic Committee of the US Congress, the country's national debt has been increasing at an average rate of $69,713.82 every second over the past year.

Kent Smetters, an economics professor at the University of Pennsylvania and a former Treasury Department official under President George W. Bush, warned that the growing burden of public debt would lead to higher inflation over time, severely reducing the purchasing power of the American people.

"Many Americans worry about whether their children and grandchildren will be able to buy a home," said Mr. Smetters. "As inflation piles up over time, consumer purchasing power is eroded, and the dream of homeownership becomes more distant."

The Government Accountability Office (GAO) has also pointed out many serious consequences of rising public debt, including higher borrowing costs for things like home or car loans, lower wages due to businesses having less capital to invest, and higher prices for goods and services.

Meanwhile, the Trump administration continues to assert that new fiscal policies are helping to reduce government spending and narrow the huge budget deficit.

An internal report from the US Treasury Department said that in the period from April to September 2025, the cumulative deficit was 468 billion USD, the lowest level since 2019.

However, leading economic experts still warn that without strong spending control measures, the US will soon face a "public debt bomb", seriously threatening its global financial position and investors' confidence in the USD, which is currently the world's main reserve currency.

Source: https://baoquocte.vn/no-cong-quoc-gia-my-tang-gan-70-usd-moi-giay-331993.html