The United States’ debt burden has been rapidly expanding in recent months, witnessing an increase of approximately $1 trillion roughly every 100 days.

On January 4, the nation’s debt officially surpassed $34 trillion, a milestone it briefly touched on December 29, as per data from the U.S. Department of the Treasury.

This marked acceleration follows the debt reaching $33 trillion on September 15, 2023, and $32 trillion on June 15, 2023. Prior to this swifter pace, the ascent from $31 trillion to $32 trillion took about eight months.

As of Wednesday, the U.S. debt, representing the funds borrowed by the federal government to cover operational expenses, stands at nearly $34.4 trillion, CNBC reported.

According to Bank of America investment strategist Michael Hartnett, the established 100-day trend is expected to persist with the progression from $34 trillion to $35 trillion.

Written by B.C. Begley