The U.S. federal debt has crossed the $38 trillion mark for the first time ever, sparking concerns about economic sustainability and market stability. This milestone was reached on October 21st as reported by the U.S. Treasury Department, surpassing the previous record of $37 trillion only two months prior. Experts point to rapid spending expansion as a key driver in this significant debt increase. Michael A. Peterson, CEO of the Peter G. Peterson Foundation, highlighted the alarming acceleration in debt accumulation: ‘The acceleration in debt levels has triggered increased scrutiny over financial sustainability, prompting discussions about potential economic ramifications.’