U.S. Treasury figures released 9 Aug. show the federal government’s outstanding debt has surpassed $37 trillion for the first time, underscoring the scale of Washington’s borrowing needs and rekindling concern about the long-term sustainability of public finances. The milestone comes little more than a month after Congress passed, and President Trump signed, the "One Big Beautiful Bill Act" on 4 July, suspending the debt ceiling through 2027. Since that date, total debt has climbed by about $780 billion—equivalent to roughly $22 billion a day—as the Treasury rebuilt its cash balance and financed widening budget deficits. At $37 trillion, the inflation-adjusted national debt has risen from about $24 trillion a decade ago and $12 trillion in 2005. Economists warn that, if current borrowing and interest-rate trends persist, annual net interest costs could soon rival defense spending, adding to the fiscal challenges facing policymakers ahead of next year’s budget negotiations.