Anyone looking at this chart and still believing that U.S. national debt will somehow return to earlier levels is not reading data, but holding on to a political fairy tale. After World War II, the United States could reduce its debt because the country entered a production-driven growth cycle, supported by innovation, cheap energy, and a kind of collective economic discipline. What began after 2008, however, was no longer emergency stimulus. It became structural dependence on deficit spending.
By 2025, the problem is not just the size of the debt. The problem is that interest payments have quietly become one of the largest and least controllable expenses in the federal budget, while fiscal policy has lost much of its flexibility. Buying U.S. bonds today no longer means investing in national development. It means financing the ongoing maintenance of a monetary system that can no longer afford to stop borrowing.
In this context, crypto is not simply a speculative risk asset. It has become an alternative domain of valuation, where trust, scarcity, and systemic separation matter more than central bank signaling.
I am not claiming that Bitcoin has become a perfect hedge, or that stablecoins are immune to political interference. But if debt continues to reshape the structure of traditional financial markets, the real question is no longer whether crypto is too risky. The real question is whether fiat currencies still represent stability in any meaningful sense.