突发！特朗普对大债主下狠手，北京时间11月3日国际圈炸锅

Core Viewpoint - The Trump administration is facing a significant debt burden of $38 trillion, which has increased by $2 trillion in just one year, leading to substantial interest payments that are diverting funds from public welfare to creditors [1][3][5]. Debt and Economic Impact - The federal debt is projected to reach $41.1 trillion, with interest payments expected to rise to $1.2 trillion this year, accounting for 3.2% of GDP [1][3]. - The debt-to-GDP ratio is nearing 130%, and if the trend continues, interest payments could exceed 5% of GDP by 2034 [3][5]. Tax and Fiscal Policy - The corporate tax rate remains fixed at 21%, but this is projected to increase the national deficit by $4.5 trillion over the next decade [5]. - Significant cuts to social programs, including $1 trillion in Medicaid and $180 billion in food stamps, are part of the fiscal strategy, which disproportionately affects low- and middle-income families [5]. Political Dynamics - The Trump administration's approach includes aggressive tariff policies, generating $5 billion daily, but this is insufficient against the backdrop of $38 trillion in debt [9][20]. - Tensions with the Federal Reserve have escalated, with Trump publicly challenging Chairman Powell and calling for lower interest rates to alleviate fiscal burdens [13][15]. International Relations and Currency Dynamics - China's holdings of U.S. debt have significantly decreased, with a reduction of $189 billion in March 2025 and a further drop of $257 billion in July, marking the lowest level since 2008 [17][18]. - The shift towards using the yuan for oil transactions by countries like Saudi Arabia and Iran indicates a growing trend away from the dollar in international trade [20][22]. Historical Context and Future Outlook - The current fiscal policies echo historical precedents, such as the Smoot-Hawley Tariff Act, which contributed to the Great Depression, raising concerns about repeating past mistakes [20][22]. - The overall sentiment suggests that the dollar's dominance is waning, with increasing skepticism about its sustainability in the global economy [22].