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Gary Peters: “Our debt now sits at $38.4 trillion.”

Featuring: Gary Peters, Democratic | U.S. Senate from Michigan

Peters Returns to Senate Floor to Sound the Alarm on Growing National Debt

Published December 18, 2025 | Video Starts at 01:36

Today, thanks in part to the irresponsible, big ugly bill that President Trump and Republicans passed this summer, that number has now ballooned by $2 trillion just in one year. Our debt now sits at $38.4 trillion. To put that number into perspective, when I was sworn into Congress back In January of 2009, the national debt stood at 10 trillion, $10.6 trillion. (01:36–01:42)

CLAIM

Asserts that the national debt is currently $38.4 trillion.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Gary Peters

“The interest alone that we pay annually on our debt now exceeds the amount we spend on every single federal program except Social Security.”
Peters Returns to Senate Floor to Sound the Alarm on Growing National Debt | Uploaded December 18, 2025 | 03:07-03:18
“At the start of 2025, our national debt sat at a staggering $36.2 trillion.”
Peters Returns to Senate Floor to Sound the Alarm on Growing National Debt | Uploaded December 18, 2025 | 01:09-01:20
“Today, thanks in part to the irresponsible, big ugly bill that President Trump and Republicans passed this summer, that number has now…”
Peters Returns to Senate Floor to Sound the Alarm on Growing National Debt | Uploaded December 18, 2025 | 01:20-01:36
“When I was sworn into Congress back In January of 2009, the national debt stood at 10 trillion, $10.6 trillion.”
Peters Returns to Senate Floor to Sound the Alarm on Growing National Debt | Uploaded December 18, 2025 | 01:44-01:55
“Americans have continued to experience high inflation this year that can be tied to this growing national debt.”
Peters Returns to Senate Floor to Sound the Alarm on Growing National Debt | Uploaded December 18, 2025 | 04:02-04:10
“When inflation goes up, the Federal Reserve has to raise interest rates to combat those higher prices.”
Peters Returns to Senate Floor to Sound the Alarm on Growing National Debt | Uploaded December 18, 2025 | 04:10-04:16