The United States public debt has hit a historic milestone: $38 trillion. This unprecedented figure, revealed by the Treasury, raises concerns about the nation’s financial stability and budget trajectory in the face of continued political gridlock and uncertainty surrounding crypto regulations. 🤯 📈 💰 📉 🇺🇸 💸 🤯 The US debt surged by $1 trillion within just two months, a rapid acceleration outside the pandemic period, according to Treasury data. Experts warn that this escalating debt burden threatens inflation, increases borrowing costs for individuals and businesses, and could lead to a surge in interest payments in the future. Despite these concerns, President Biden’s administration attributes this increase to fiscal tightening measures, claiming they have reduced the deficit to $468 billion. 👨💼 However, the Congressional Joint Economic Committee revealed that debt accumulation is accelerating at an alarming rate of $69,713.82 per second! The consequences are being felt across various sectors: rising consumer prices, increased borrowing costs for mortgages and auto loans, and a reduced capacity to invest in crucial areas such as infrastructure and technology. 🏛️ 🚗 🔥 🌎 📉 🤯 🤯. Meanwhile, Treasury Secretary Scott Bessent, a former hedge fund manager, claims the budget improvements are due to spending cuts and revenue increases implemented by the administration. The White House continues to prioritize this approach, promising further economic growth and lower inflation while aiming to combat waste and fraud. 🤔 💰 However, economists raise doubts about the long-term sustainability of these strategies, especially given the possibility of rising interest rates, and a potentially shifting regulatory landscape for cryptocurrencies. The choice of Scott Bessent, who brings a background from speculative finance, could signal a push towards deregulation that may impact financial regulations and the volatile crypto market. Even though there hasn’t been direct mention of cryptocurrencies like bitcoin, these changes to fiscal policy might affect investor risk perception, potentially influencing the dollar’s role as the world’s reserve currency. 🌎 This economic shift could lead to tensions with the Federal Reserve or even a showdown over the debt ceiling, ultimately disrupting global markets. As the uncertainty persists, some investors are turning to assets like bitcoin as potential safe havens in case of unexpected disruptions in the US financial system. 🛡️ 💰