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).

The US public debt has exceeded $38 trillion. (Source: Debt.org)

This is a worrying milestone, reflecting an unprecedented rate of debt growth in U.S. history outside of 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 borrowed an additional $1 trillion. Notably, this rate of debt increase has become an alarming trend.

Looking back at recent history, in less than two years, the US public debt has increased by more than $4 trillion, with notable milestones: reaching $34 trillion in January 2024; $35 trillion in July 2024; exceeding $36 trillion in November 2024; touching $37 trillion in August 2025; and most recently, reaching $38 trillion in October 2025.

According to the US Congressional Joint Economic Committee, the country's national debt is increasing at an average rate of $69,713.82 per second over the past year.

Kent Smetters, a professor of economics at the University of Pennsylvania and a former Treasury official under President George W. Bush, warns that the growing burden of public debt will lead to higher inflation over time, severely undermining the purchasing power of Americans.

Smetters observed: "Many Americans worry about their children and grandchildren, wondering if future generations will be able to afford a home. As inflation mounts over time, consumer purchasing power erodes, and the dream of home ownership becomes increasingly distant."

The Government Accountability Office (GAO) has also pointed out several 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 its new fiscal policies are helping to reduce government spending and narrow the massive budget deficit.

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

However, leading economists warn that without strong spending controls, the United States will soon face a "public debt bomb," seriously threatening its global financial standing and investor confidence in the US dollar, which serves as the world's primary reserve currency.

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