The Treasury Department reported on Tuesday that the U.S. national debt increased by $1 trillion in less than a year to a record level of $37 trillion.

It is reportedly the highest deficit level in the country’s history. The previous record was $36 trillion, set in November 2024, and the $35 trillion mark in July 2024. The deficit was $37,004,817,625,842.56 as of Tuesday afternoon, according to the Treasury Department.