The U.S. public debt has reached a historic $38 trillion, marking an increase of $1 trillion in under two months, according to the Treasury. This rapid accumulation is the fastest outside the pandemic period, with the debt growing at a rate of $69,713.82 per second, as estimated by the Congressional Joint Economic Committee. Experts caution that this surge could lead to increased inflation, higher borrowing costs, and rising interest charges. Despite these concerns, the administration reports a reduction in the deficit to $468 billion, citing budgetary austerity measures. Treasury Secretary Scott Bessent noted that the deficit is at its lowest since 2019, attributing the improvement to spending cuts and revenue increases.