America’s Debt Crisis Goes Into Overdrive

May 19, 2025 • 46 second read

The GOP’s spending bill isn’t quite yet ready for a vote. However, based on the current proposals, total debt could increase from $3.3 trillion to $5.2 trillion.

That may be why Moody’s finally joined the other credit rating agencies in downgrading U.S. debt.

And it may be adding fuel to the bond market fire, with the 30-year Treasury yield topping 5%.

Despite tough talk on getting government spending down, and the billions of dollars in wasteful spending identified by DOGE, none of that matters if actual spending rises.

Turn Your Images On

This doesn’t mean a debt crisis overnight. Just like the global shift away from the U.S. dollar, there’s no singular event that historians will be able to identify.

Instead, it’s more like a death by a thousand cuts. The business-as-usual spending out of Washington while the bond market screams that a fix is needed is simply the most recent cut.

-Andrew

Ripple Effect

America’s Debt Crisis Goes Into Overdrive

Andrew Packer

May 19, 2025 • 46 second read

The GOP’s spending bill isn’t quite yet ready for a vote. However, based on the current proposals, total debt could increase from $3.3 trillion to $5.2 trillion.

That may be why Moody’s finally joined the other credit rating agencies in downgrading U.S. debt.

And it may be adding fuel to the bond market fire, with the 30-year Treasury yield topping 5%.

Despite tough talk on getting government spending down, and the billions of dollars in wasteful spending identified by DOGE, none of that matters if actual spending rises.

Turn Your Images On

This doesn’t mean a debt crisis overnight. Just like the global shift away from the U.S. dollar, there’s no singular event that historians will be able to identify.

Instead, it’s more like a death by a thousand cuts. The business-as-usual spending out of Washington while the bond market screams that a fix is needed is simply the most recent cut.

-Andrew

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