36万亿美债压顶，中国拒不接盘！特朗普决定“弄死”大债主！

Core Viewpoint - The U.S. national debt has surged to $37 trillion, equating to approximately $110,000 per citizen, raising concerns about the sustainability of this debt level and its implications for the economy [1][4][17]. Group 1: Debt Accumulation and Historical Context - The U.S. national debt has increased dramatically from $34 trillion last year to $37 trillion this year, marking a $3 trillion rise in just nine months [4][17]. - The historical context of U.S. debt dates back to post-World War II, where the debt rose from $510 billion to $2.6 trillion, with the U.S. leveraging its victory to establish the dollar as the global reserve currency [4][10]. - The reliance on debt to manage fiscal deficits has become a norm, with the U.S. frequently issuing bonds to finance its expenditures [4][10]. Group 2: Economic Policies and Consequences - The Trump administration's approach included increasing tariffs on over 150 countries, which led to rising import costs and domestic inflation reaching 6.5% [6][10]. - Efforts to cut spending were largely ineffective, with only a minor reduction in expenditures achieved, highlighting the challenges in managing such a large debt [6][10]. - The military expenditures, nearing $900 billion last year, were primarily financed through debt issuance, further exacerbating the national debt situation [6][10]. Group 3: Global Implications and Investor Sentiment - The U.S. faces potential backlash from its allies, such as Japan and the EU, if it defaults on its debt, which could destabilize the global financial system [10][13]. - The trust in the U.S. dollar as a reserve currency is critical; a default could lead to a loss of confidence, prompting countries to shift to alternative currencies for trade [10][13]. - The ongoing trade tensions with China have led to a reduction in U.S. debt holdings by China, which has sold off $800 billion in U.S. bonds since 2022 [13][20]. Group 4: Future Outlook and Risks - The U.S. national debt is projected to reach critical levels, with approximately $9.3 trillion maturing by 2025, raising concerns about the ability to refinance without incurring further debt [17][20]. - The current economic strategies, including potential currency devaluation through excessive money printing, may lead to long-term consequences for the U.S. economy and its global standing [10][20]. - The political landscape, characterized by partisan conflicts, may hinder effective reforms needed to address the escalating debt crisis [21].