The U.S. national debt surpassed $38 trillion on Wednesday, reaching its fastest-ever $1 trillion increase outside the COVID-19 pandemic.

The American national debt hit $1 trillion in 1981 , $2 trillion in 1987 and $3 trillion in 1990. Now, the national debt is rising by $1 trillion about every 180 days, with no end in sight.

Over the next 10 years, the Congressional Budget Office predicts federal spending will total $88 trillion (23.6% of GDP), while revenue will total more than $65 trillion (17.5% of GDP).

Michael Peterson, CEO of the Peter G. Peterson Foundation, a nonprofit focused on finding long-term fiscal solutions for the federal government, told Fox Business that “reaching $38 trillion in debt during a government shutdown is the latest troubling sign that lawmakers are

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