The latest data from the U.S. Treasury Department website shows that the U.S. federal government debt has reached 34.997 trillion U.S. dollars, just one step away from the 35 trillion U.S. dollar mark.

Data from the U.S. Treasury Department showed that as of July 25, the federal government debt had approached the $35 trillion mark.

According to estimates by the Peter Peterson Foundation in the United States, if these huge debts were distributed among the American people, it would be equivalent to each person owing nearly $104,000.

Recently, more and more American politicians, business people and economists have expressed concerns about the U.S. debt problem.

Economist EJ Anthony of the Heritage Foundation recently said that in June this year, the amount of interest paid by the United States on federal debt was equivalent to 76% of the individual income tax revenue of that month. Musk, CEO of Tesla, recently wrote an article saying: "The United States is heading towards bankruptcy."

Larry Fink, CEO of BlackRock, one of the world's largest asset management groups, said in an interview with US media that the US deficit is the largest and the fastest growing in the world, and "we must find ways to minimize the impact of the deficit on the economy, interest rates and inflation."

The scale of the U.S. federal government debt has shown an accelerating expansion trend in recent years. In September 2017, the scale of U.S. debt exceeded 20 trillion U.S. dollars. In February 2022, the scale of U.S. debt exceeded 30 trillion U.S. dollars. On June 16, 2023, the scale of the federal government debt exceeded 32 trillion U.S. dollars, reaching this figure nine years earlier than the forecast before the COVID-19 pandemic.

The Peter Peterson Foundation believes that technically, the growing debt of the U.S. federal government is mainly caused by an aging population, rising medical costs and insufficient tax revenue. Many media and economists believe that fundamentally, the shortcomings of the U.S. Congressional operating mechanism and the indifference of major political parties to the debt problem are the main reasons for the continuous accumulation of federal government debt. Some media have noticed that the debt issue was hardly mentioned in the campaign activities of the Democratic and Republican parties around this year's general election.

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