"Did the US national debt exceed 34 trillion dollars?"
The U.S. national debt surpassed $34 trillion in early January 2024 and has continued to rise since then.
AnalysisThe federal government's gross national debt exceeded $34 trillion on January 2, 2024, marking a new record high. This milestone was reached several years earlier than pre-pandemic projections by the Congressional Budget Office.
The debt has continued to increase throughout 2024, 2025, and into 2026. As of August 5, 2026, the U.S. national debt is approximately $39.47 trillion, according to data from the U.S. Treasury Department. Other sources from June and July 2026 also confirm the debt is around $39 trillion.
The rapid increase in debt is attributed to factors such as heavy government borrowing during the multi-year pandemic that began in 2020 to stabilize the economy, and a surge in inflation that led to higher interest rates, making it more expensive for the government to service its debts.
- [1]pbs.org
- [2]us-debt-clock.com
- [3]senate.gov