美国实际上已经破产，所谓的37万亿美元国债只是冰山一角，37万亿美元，按美国现在3.42亿人口算，平均每个人头上背着10.8万美元的债

Core Insights - The U.S. national debt has surpassed $38 trillion, increasing significantly from just over $35 trillion last year, indicating a rapid accumulation of debt [1][3] - The average American household now carries a debt of $280,000, which is a substantial burden given the average annual salary of $60,000 [3][5] - The U.S. government is projected to have a budget deficit of $1.8 trillion, with expenditures reaching $7 trillion against revenues of $5 trillion [3][6] Fiscal Health - Interest payments on the national debt are expected to reach $1.2 trillion by 2025, exceeding the defense budget [3][6] - The Congressional Budget Office (CBO) forecasts that the debt-to-GDP ratio will exceed 120% and could rise to 156% by 2055, indicating a deteriorating fiscal position [3][6] - The U.S. faces significant unfunded liabilities, estimated at $230 trillion for social security and Medicare, exacerbated by an aging population [6][8] Economic Impact - Tax cuts implemented in 2017 have led to a significant reduction in tax revenue, with an estimated $4.5 trillion loss over ten years, contributing to the growing fiscal deficit [8][10] - A large portion of corporate profits has been used for stock buybacks rather than reinvestment in the economy, further straining fiscal resources [8][10] - The short-term debt due by 2025 amounts to $9.2 trillion, which is one-third of the total debt, raising concerns about rising interest payments [8][10] Global Context - The trend of de-dollarization is impacting the U.S. ability to manage its debt, with the dollar's share in global reserves declining from 71% in 2010 to a projected 58% by 2025 [10][12] - The Federal Reserve is now focused on asset reduction rather than monetary expansion, indicating a shift in fiscal policy [10][12] - The ongoing cycle of increasing debt and budget deficits poses a risk of loss of confidence in U.S. fiscal stability, which could have global repercussions [12]