The U.S. national debt has surpassed $35 trillion for the first time as debates over taxes and spending loom.

Despite this growing debt, presidential candidates have offered few solutions, and deep political divisions make it difficult to address the primary drivers of the debt, such as Social Security and Medicare.

Rising interest rates and unexpected costs from federal programs have exacerbated the situation, with projections indicating the debt could reach $56 trillion by 2034.