 "US national debt hits record $37 trillion years ahead of projections")
US national debt reached record USD 37 trillion.
The national debt eclipsed this new milestone years sooner than pre-pandemic projections.
The Congressional Budget Office's January 2020 projections predicted the US reaching the milestone after fiscal year 2030.
But the debt grew faster than expected as the COVID-19 pandemic shut down much of the US economy and the Trump and Biden administrations borrowed heavily to stabilise the national economy.
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