Recently, according to the data released by the U.S. Treasury, the total U.S. national debt has for the first time surpassed $37 trillion. The rapid expansion is driven by a combination of factors: bipartisan efforts to win votes and maintain ties with interest groups through policies that expand spending while cutting taxes, repeated increases or suspensions of the “debt ceiling,” and persistently high interest payments fueled by rate hikes. This growing debt burden inevitably intensifies repayment pressure, raises the risk of default, and injects greater uncertainty into the global financial system.