{
  "id": 6410228,
  "title": "U.S. national debt increased by $5.1 million a minute over the past year—that’s $117,279 for every American",
  "url": "https://urgent.news/2026/09/09/u-s-national-debt-increased-by-5-1-million-a-minute-over-the-past",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-09T10:16:10.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/09/09/us-national-debt-joint-economic-committee-budget-update/"
  },
  "original_language": "en",
  "account": "Over the past year, the U.S. national debt has swelled by $5.1 million each and every minute, totaling $117,279 per person, according to a recent report from Congress's Joint Economic Committee (JEC). The committee's monthly budget update calculated the rate of debt growth, revealing that the debt has surged by $85,111.72 per second over the past year. The report indicates that gross national debt has risen by $2.67 trillion relative to the same period last year, and $11.68 trillion greater than five years ago. If the current average daily growth rate persists, the U.S. is projected to reach $41 trillion in debt by mid-January, with an additional trillion dollars causing a further increase after 151 days, around June 2027. The average daily debt growth amounts to $7.35 billion, or $306.4 million per hour, or $5.11 million per minute. This debt burden translates to $117,279 per person or $297,522 per household, marking a year-on-year increase of $7,806 per individual and $20,000 per household. While debt holders do not receive direct bills, the public still finances this debt. Debt experts warn that while Americans won't directly receive a bill, they are indirectly paying for it through taxes and rising expenses, including mortgages, car loans, and credit card bills. Inflation may also be impacted. Michael Peterson, chairman and CEO of the Peterson Foundation, a nonpartisan organization focused on sustainable fiscal policy, emphasized that financing such a massive debt drives up interest rates, potentially increasing household expenses. Despite the staggering sums, some argue that the value of debt isn't a significant issue for the world's largest economy. However, the U.S. Treasury, like any borrower, does pay interest. In August 2026, the average interest rate on the national debt was 3.475%, compared to 3.415% last year and 1.458% five years ago. The JEC notes that interest payments totaled $294.76 billion over the past year, averaging $24.56 billion monthly.",
  "summary": "The rate of debt growth averages around $7.35 billion a day, a JEC report adds, or $306.4 million per hour—$5.11 million per minute.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}