BREAKING: Total US debt has officially crossed above $37 trillion for the first time in history. This puts total US debt up +$780 billion since the debt ceiling was raised following the signing of the "One Big Beautiful Bill Act" into law on July 4th. This equates to an average rise of a whopping +$22 billion per day. Last week alone, the government sold $724 billion in Treasuries through 10 auctions. The US debt crisis is worse than ever.

This puts total US debt up nearly +$14 trillion since the pandemic began. We are spending nearly $3 billion on interest PER day. Simply put, we are on an unsustainable fiscal path; and it’s getting worse. Follow us @KobeissiLetter for real time analysis as this develops.