Data shows the US national debt has significantly increased in recent years, including during Trump's second term.
Here's a summary of the debt increase, particularly in July 2025:
- National Debt: As of July 3, 2025, the national debt stood at $36.2 trillion.
- Debt-to-GDP Ratio: The debt-to-GDP ratio was 119.4% at the end of the second quarter of 2025 (June 30).
- Recent Increase: The federal government borrowed $1.9 trillion between August 2024 and July 2025. This amount is roughly 6.5% of GDP.
- July 2025 Deficit: The deficit in July 2025 was $289 billion, an increase of $45 billion compared to July 2024.
- Trump's "One Big Beautiful Bill": Analysts project that this bill, which Trump signed in July 2025, will add $2.4–$3.3 trillion to the national debt over the next decade. This is due to provisions like tax revenue losses and front-loaded spending.
- Interest Costs: Interest payments on the debt are projected to reach $1.8 trillion by 2035. Interest costs in 2024 alone were $1.1 trillion.
In short, the national debt has increased significantly during Trump's second term, and the "One Big Beautiful Bill" passed in July 2025 is expected to further contribute to this increase