By John Q. Hosedrinker 
The U.S. national debt has surged past $38 trillion, reaching a record high that underscores the rapid accumulation of debt, marking the fastest trillion-dollar increase outside of the COVID-19 pandemic. This growing debt could lead to higher inflation, eroding Americans’ purchasing power and impacting future generations’ ability to achieve financial goals like home ownership. Experts warn that increased debt results in higher borrowing costs and potentially reduced wages, as government spending continues to grow. Amidst these concerns, the Trump administration emphasizes its efforts to slow spending and reduce the deficit.
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US hits $38 trillion in debt, after the fastest accumulation of $1 trillion outside of the pandemic. So, here we are, staring down the barrel of a $38 trillion national debt. And what’s really catching my attention is how quickly that number has ballooned, with a mind-boggling $1 trillion added in a timeframe that’s been described as the fastest outside of the pandemic period. That’s a lot of zeros, and honestly, it’s a bit overwhelming to wrap your head around.
This rapid debt accumulation, with approximately $2 trillion added since November 2024, has raised some serious questions. Why is it that we don’t hear much about the debt anymore, especially when it seems like the issue was front and center not too long ago? It’s a bit of a head-scratcher.
The irony, or perhaps the hypocrisy, is palpable. It seems the political playbook often involves railing against deficits and debt when a party isn’t in power, only to seemingly ramp things up once they are. Former President Obama, for example, inherited a substantial debt and, as some point out, left office with a significantly larger one. But the pace and scale of this recent increase are notable.
Looking back, and hearing the comments, it’s easy to see that one individual, and his administration, have contributed an outsized portion to this mountain of debt. It is worth noting that Trump’s tenure saw a 40% increase in the debt in less than five years. The implications of this are quite serious. It suggests the need for some deep analysis, the fact that the debt has grown at such a rapid pace.
This enormous figure, $38 trillion, when divided by the population of the United States, leaves each individual with an astonishing per capita debt of over $111,000. That’s a staggering amount, a burden on every man, woman, and child in the country. It is a burden that will impact our futures.
Of course, the arguments that some claim this debt is “the biggest and most beautiful” thing this country has ever seen. The assertion that tariffs will fix everything seems like a rather simplistic solution to such a complex problem. The reality of the situation is that this debt will likely require significant financial sacrifices to address. It is all the more concerning when the government’s spending seems unchecked.
The question of where all this money went is a valid one. Some suggest that it’s going to the wrong places. There is a need to consider the costs and the consequences. The government’s decisions have real-world implications, including cuts to essential services, and the potential for a rising interest on the debt is a concern.
There’s talk about how we’ll have to “tighten our belts” and potentially sacrifice things like healthcare and food. This feels like a direct consequence of this debt. And when you look at how some of these massive expenditures appear to align with specific political viewpoints, it becomes clear that these actions have consequences for all of us.
The pattern is pretty clear: when out of power, Republicans talk a big game about fiscal responsibility. But when they’re in charge, the debt seems to skyrocket. This is what you would call a problem.
The implications of this debt are significant. If there are 140 million taxpayers in America, then the current debt of $38 trillion is $271,000 per taxpayer. If the average taxpayer is paying around $13,500 in federal taxes a year, that just barely covers basic operational spending. To pay off $271,000 per taxpayer will require a radical change in how we collect and spend resources. This is a huge problem.
The interest on this debt is roughly $1 trillion per year, even more than what we spend on the military. The interest alone is a growing burden on our economy.
Ultimately, the key drivers of this debt – Social Security, Medicare, Medicaid, and interest payments – are like the Four Horsemen of the Budget Apocalypse. They’re a relentless force that must be managed, not ignored.
Some people believe that the goal is to make the debt worse, so the U.S. will be forced to sell off assets to the rich. If we don’t turn the boat around, we could lose a whole host of services and programs.
The “starving the beast” strategy, where taxes are cut and spending is reckless to drive the nation into a fiscal crisis, seems to be a real thing. It is a plan to destroy the federal government itself.