The United States national debt surpassed $37 trillion for the first time in history, reaching $37.2 trillion as of early August 2025. This milestone follows a $780 billion increase since the debt ceiling was raised with the signing of the "One Big Beautiful Bill Act" on July 4, 2025, averaging about $22 billion added per day. The surge in debt has raised concerns about fiscal sustainability, with interest payments now exceeding defense spending. Concurrently, the US federal budget deficit for July 2025 widened to $291.1 billion, surpassing estimates of $239.2 billion and marking a sharp reversal from a $27 billion surplus in June. Despite record customs duties revenue of $28 billion in July, tariff income remains a small fraction of federal revenue and insufficient to offset high government spending, which totaled approximately $630 billion that month. Household debt also rose to a record $18.4 trillion in Q2 2025, up $185 billion, with mortgage debt at $12.9 trillion, credit card debt at $1.2 trillion, auto loans at $1.7 trillion, and student loans at $1.6 trillion. Delinquency rates have escalated across multiple debt categories: credit card debt delinquency (90+ days) reached 12.3%, the highest in 14 years; student loan serious delinquencies hit a record 13%, with those aged 50+ reaching 18%; auto loan serious delinquencies rose to 5%, the highest in five years. These trends indicate growing financial stress among American consumers amid rising debt burdens and fiscal pressures.