According to a report in The Center Square, the federal government has borrowed about $5 billion a day throughout fiscal year 2024.

The number comes from a recent report from the Congressional Budget Office, which said that the federal budget deficit was $1.5 trillion for the first 10 months of fiscal year 2024.

The agency projects that the deficit for 2024, in total, will be $2.0 trillion.

Maya MacGuineas, President of the Committee for a Responsible Federal Budget, said in a statement, “We’re nearly at the end of fiscal year 2024, and while most of America is focused on the momentum in the race for the White House, beneath the surface our nation’s fiscal health has continued to worsen.”

“We’ve just surpassed $35 trillion in gross debt, and today’s CBO projections estimate we’ve borrowed another $242 billion in July, or $5 billion each day this fiscal year,” MacGuineas explained.

According to reports, U.S. debt rises nearly $1 trillion every 100 days.

As of January, the government’s gross national debt hit $34 trillion.

The Treasury Department’s number came several years earlier than projected, as $34 trillion was expected to be the gross federal debt in 2029.