As national debt accelerates to $38 trillion, watchdog warns it’s ‘no way for a great nation like America to run its finances’

The U.S. national debt has surged past $38 trillion, according to the U.S. Treasury Department, just two months after surpassing previous forecasts to reach $37 trillion in August. This means the federal debt rose by $1 trillion in a little over two months, which the Peter G. Peterson Foundation calculates is the fastest rate of growth outside the pandemic. Michael A. Peterson, CEO of the nonpartisan watchdog dedicated to fiscal sustainability, said this landmark is “the latest troubling sign that lawmake ...