In June 2025, the national debt of the United States reached the impressive figure of 37 trillion dollars, surpassing this threshold for the first time. The amount is equivalent to more than 120% of GDP, generating alarm among economists and fiscal policymakers. Interest payments amounted to nearly $1.1 trillion a year, consuming 25% of tax revenues.

This escalation has been driven by years of economic stimulus, tax cuts, spending on health and defense, and the persistent impact of the pandemic. Additionally, around $10 trillion in maturities are being refinanced during 2025. Increases in interest rates have also raised the costs of servicing the debt, heightening fears that resources intended for investment will be absorbed by interest payments.