National debt surpasses $30 trillion for the first time

(KYMA, KECY/ CNN) - America's national debt just hit a huge milestone, passing $30 trillion for the first time in its history.

That sobering news coming from Treasury Department data published Tuesday.

Government borrowing sped up during the pandemic, as Washington spent aggressively to lessen the economic impact of the crisis.

Since the end of 2019, the national debt has surged by about $7 trillion.

Economists are divided on how big of a problem this really is, but it comes as borrowing costs are expected to rise. That's because the federal reserve is poised to raise interest rates.