US national debt reaches record levels exceeding $37 trillion, at a time when concerns are rising about the implications for the financial and economic stability of the United States and the world. This alarming increase is due to a combination of structural factors, primarily an aging population and rising healthcare costs, which place tremendous pressure on long-term government spending programs such as health insurance and retirement. At the same time, servicing public debt through interest payments is the fastest-growing item in the budget, with more than $13 trillion expected to be consumed over the next decade, which could undermine the government's ability to fund its future priorities. This is accompanied by serious warnings from prominent economists who believe that the US financial system is approaching a critical point that may witness a crisis of confidence in the dollar and Treasury bonds, especially amid a decline in international enthusiasm for holding these bonds, as recently occurred with some central banks. Additionally, the continued issuance of bonds with high yields to cover the deficit deepens risks and threatens the stability of the entire debt market. Despite the government's efforts to contain the situation through regulatory measures and tax reforms, solutions appear limited without a clear political will to curb spending and restore budget balance.
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