US government debt nears $39 trillion, according to Treasury data. That is up from $37 trillion in August and $38 trillion in October, which was during a federal government shutdown. The Treasury added the most recent $1 trillion in debt in just 71 days, the fastest accumulation outside of the COVID pandemic. Nearly $5 trillion in debt has been added since since January, 2024. Furthermore, interest payments are now the fastest-growing line in the federal budget. In absolute terms, they have surpassed spending on both Medicare and national defense.

Published by The Spectator Index