I know people have been saying this for a long time, but US debt looks very scary.

Currently $32.7 trillion in debt.

51% of that must be refinanced before 2025.

Interest rates are 500 basis points higher than the time of original issuance.

Doing some sums and the US government needs to find an extra $900bn a year by 2025, to cover the debt balloon from globalisation years. For context $900bn is the entire US military.

The US debt structure isn’t very long sighted, 80% of the debt has to be refinanced before 2030.

For comparison the average maturity of British Gilts is 15 years.

Options for USA:

1). Increase tax revenue from $4.9T to $6.0T

2). Cut spending from $6.5T to $5.5T

3). Dilute the dollar and eat inflation

4). Some combination of the above

Obviously they will go for option 4). but the weightings between the options are going to be huge game changers for various groups and nobody over there seems to talk about it.