On Monday, the U.S. national debt surpassed $35 trillion for the first time, reaching $35,001,278,179,208.67.

This milestone follows a rapid increase, with the debt hitting $34 trillion in January 2024 and $33 trillion in September 2023.

Just four decades ago, the debt was around $907 billion.

The Congressional Budget Office projects that debt held by the public will reach 99% of GDP this year and exceed 106% of GDP by 2027.

The widening budget deficits, driven by rising interest rates and mandatory spending programs like Social Security and Medicare, have intensified concerns about fiscal responsibility, Fox Business has reported.

Experts, including Maya MacGuineas of the Committee for a Responsible Federal Budget, urge for serious action to address the growing debt and avoid worsening the situation with new spending or tax cuts.

Written by B.C. Begley