The U.S. government’s gross national debt has surpassed $37 trillion, a record number that highlights the accelerating debt on America’s balance sheet and increased cost pressures on taxpayers. The $37 trillion update is found in the latest Treasury Department report issued Tuesday which logs the nation's daily finances.

The US national debt has climbed past $37 trillion — a record sum that shows how quickly the federal government’s borrowing has accelerated and how rising interest costs are rippling through the economy.