United States reaches $37 trillion in debt

The United States on Friday reached $37 trillion in debt, less than a year after it surpassed $36 trillion. 

Multi-billionaire Elon Musk, who is considered the richest man in the world, warned that the benchmark was around the corner on Tuesday, and that the United States was hovering on the edge of going "de facto bankrupt" because the interest payments on the U.S. debt account for 25% of all tax revenue.

"If this continues, America goes de facto bankrupt and all tax revenue will go to paying interest on the national debt with nothing left for anything else," he posted to X.

The benchmark comes after the U.S. passed the $36 trillion debt threshold in November. 

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.