#美国国债 US national debt hits a record high, with 25% of tax revenue used to pay interest, which indeed raises concerns about inflation, long-term fiscal stability, and the future direction of the dollar, as detailed below:

Inflation aspect

- Increase in money supply: To repay debts and pay interest, the US government may resort to increasing the money supply, which will raise the money supply and trigger inflation.

- Demand-pull inflation: Government borrowing to maintain fiscal spending may stimulate economic growth and increase total demand. If supply cannot respond quickly, it may lead to rising prices, causing demand-pull inflation.

Long-term fiscal stability aspect

- Debt sustainability issue: The continuously growing debt scale and high interest payments make the US government's debt burden heavier, which may increase the risk of debt default and affect national credit.

- Limited fiscal space: A large portion of tax revenue used to pay interest limits government spending in other important areas, such as infrastructure development, education, healthcare, etc., which in turn affects the long-term growth potential of the economy.