No one

United

Donald Trump

Joe Biden

The United States is hemorrhaging money—$4 billion every single day to be exact—just to pay the interest on its $33 trillion national <a href="https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/" rel="nofollow noopener" target="_blank">debt</a>. That’s $166 million an hour, $2.7 million every minute, and a mind-numbing $45,000 a second. 
It’s a figure so obscene yet it’s the reality of America’s financial position. This reckless spending has pushed the U.S. Debt-to-GDP ratio to 121%, a level not even reached during World War II. In comparison, it was just 60% in 2008, back when the Great Recession first hit, because yeah, it came back last year. 
Since 2020, the U.S. has added $13 trillion to its debt. That’s a 57% increase in under five years. Meanwhile, as 2025 approaches, prediction markets are betting there’s a 36% chance the Department of Government Efficiency (D.O.G.E) might trim $250 billion from federal spending. Sounds like a lot, right? Except it wouldn’t even scratch the surface of the deficit problem. 
<h3 id="span-style-font-weight-400-the-dollar-s-grip-on-global-finance-span">The dollar’s grip on global finance</h3> 
Despite this insane financial chaos, the dollar isn’t going anywhere. For decades, doomsayers have warned about the dollar’s downfall, but it keeps flexing like an undefeated champ. 
From the oil crisis of the 1970s to the rise of the euro, from Japan’s economic ascent to China’s manufacturing takeover, the dollar has seen it all—and survived. Why? Because the world has no other choice. 
Right now, over 60% of global reserves are held in dollars. About 90% of all foreign exchange trades involve the greenback. International trade invoices? Mostly in dollars. And let’s not forget U.S. Treasuries—the so-called “safe haven” for global investors. 
Other currencies, like the euro or the Chinese yuan, have tried to make a play for the top spot, but they just don’t have the same liquidity or trust. 
China, often hyped as the dollar’s biggest threat, has its own issues. The yuan accounts for a tiny fraction of global transactions and is tightly controlled by Beijing. Investors don’t trust a currency that can’t flow freely. 
Meanwhile, the euro had a strong debut but lost credibility after a series of debt crises rocked the eurozone. These problems have left the dollar as the last man standing in a very shaky financial world. 
The dollar’s dominance is woven into the fabric of global trade and finance. The U.S. can borrow at levels that would bankrupt any other country because the dollar is still the world’s default currency. But how long can this game go on? 
<h3 id="span-style-font-weight-400-debt-the-privilege-and-the-price-span">Debt: The privilege and the price</h3> 
For decades, the U.S. has leaned on what economists call its “exorbitant privilege.” Basically, the world trusts the U.S. government to pay its bills, so investors keep buying Treasuries no matter how much debt America racks up. 
This allows Washington to borrow trillions for wars, stimulus packages, or even public-health emergencies. But that trust isn’t unlimited. Critics warn that America’s debt addiction could eventually blow up in its face. 
The sheer scale of the debt—combined with those $4 billion-a-day interest payments—has people wondering how much longer the U.S. can live beyond its means. And it’s not like anyone has a plan. 
Barack Obama tried to rein in spending with a high-powered deficit committee, but their recommendations went nowhere. Donald Trump once called the dollar both “too strong” and “too weak” while pursuing massive tax cuts that ballooned the debt even further. 
Joe Biden hasn’t fared much better, pushing pandemic-era spending packages that added trillions more to the tab. What’s the long-term strategy here? No one seems to know. 
<h3 id="span-style-font-weight-400-u-s-is-the-dollar-s-worst-enemy-span">U.S. is the dollar’s worst enemy</h3> 
But even countries that criticize America’s policies rely on the greenback. China, for instance, might talk about “de-dollarizing,” but it still issues dollar-denominated bonds to attract investors. Saudi Arabia recently sold $2 billion in dollar bonds. 
Even the much-discussed BRICS currency is years away, if it happens at all. Until something better comes along, the dollar will stay on top. But let’s not pretend this is a good thing. The dollar’s dominance allows the U.S. to print money and pile on debt without facing the kind of crises that cripple other nations. 
This creates a dangerous feedback loop: Washington borrows because it can, and the world keeps enabling it because they don’t have another option. 
The real question isn’t whether the dollar will collapse—it’s what could trigger its decline. Some economists argue that America itself poses the biggest threat to its currency. Excessive sanctions, for example, have already pushed some countries to explore alternatives. 
If the Oval overplays its hand, it could accidentally speed up the search for a credible dollar rival, just as Russia’s president Vladimir Putin predicted. 
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Dollar’s reign endures even as U.S. spends $4B daily to pay interest rates on national debt

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