The U.S. national debt surpassed $35 billion on Monday, a major milestone for the U.S. government and economy as the national debt continues to rise each year.

The national debt has nearly tripled in the last two decades. “If this sounds familiar, we’re going to be $34 trillion short by the end of 2023 alone,” Maya MacGuineas, chairwoman of the State Appropriations Committee, said after the move. “Three months ago, we were at $33 trillion, three months before that, we were at $32 trillion. The credit just keeps going and going and going and going.”

MacGuineas said the U.S. Annual losses are expected to reach $2 trillion this year and nearly $3 trillion over the next decade.

Before COVID-19, the deficit was under $1 trillion, but since the pandemic, it has risen to well over $1 trillion.

Medicare and Social Security are on the verge of bankruptcy due to the economic crisis, groups say. Meanwhile, interest rates on the national debt have doubled since President Joe Biden took office, and that’s the only way the federal government can use that instead of fixing or protecting the nation.

“CBO projects benefits through 2024 will total $892 billion, up 36 percent from last year and following increases of 35 percent and 38 percent in each of the previous two years,” the Peterson Foundation said in a statement last month. “This year’s projected higher interest rates are not just one year in the making; they are part of what’s to come as debt levels continue to rise and higher interest rates are pushing up the cost of government bonds on average.”

“An election year is not the only way to prevent a planned disaster, and debt is one of the biggest risks we face,” MacGuineas said. “As America gets back on a sustainable and prosperous path, our leaders need to align words and actions. Pay for new or increased spending to get new tax cuts or better deals; In a single word: govern.”