#ALEO U.S. debt interest payments surpass $1 trillion, with stablecoins potentially becoming a key variable under American debt pressure. The U.S. government is facing unprecedented fiscal stress. In fiscal year 2025, the interest expense on federal government debt will exceed $1 trillion for the first time, surpassing defense spending and also exceeding healthcare expenditures, setting a record. This change has sparked widespread discussions about the sustainability of U.S. finances and has also brought increased attention to the role of stablecoins within the macro financial system. Data shows that in fiscal year 2020, net interest payments were only $345 billion, but by 2025, they are approaching $970 billion; including all public debt interest, the total officially exceeds $1 trillion. The Congressional Budget Office estimates that over the next decade, cumulative interest payments could reach $13.8 trillion, nearly double the amount of the past twenty years. Some institutions even warn that in a more pessimistic scenario, annual interest payments could rise to $2.2 trillion by 2035. The core issue lies in the imbalance between debt and economic size. Currently, U.S. federal debt is equivalent to 100% of GDP and is expected to continue rising over the next decade. This structure has clear "self-reinforcing" characteristics: the government needs to borrow more to pay existing debt interest. Once market confidence declines and interest rates rise, debt burdens will increase further, creating a potential debt spiral. This outlook has triggered intense reactions on social media, with keywords like "Weimar inflation" and "buy gold" frequently appearing, reflecting market concerns about the stability of the fiat currency system. In the short term, large-scale government bond issuance has absorbed market liquidity. With risk-free rates approaching 5%, both stocks and cryptocurrencies face valuation pressures. However, from a long-term perspective, stablecoins are gradually revealing strategic significance. The 2025 "GENIUS Act" requires stablecoin issuers to hold 100% USD or short-term U.S. Treasury reserves, effectively making them structural buyers of U.S. debt. Standard Chartered Bank predicts that in the next four years, stablecoin issuers may absorb about $1.6 trillion in U.S. Treasuries, becoming an important force in the global debt landscape. Against the backdrop of debt repayment, U.S. regulation and acceptance of stablecoins are no longer just about financial innovation but are part of the self-regulation of the fiscal system. As traditional systems come under pressure, cryptocurrencies and stablecoins may play a more critical role in global capital flows.

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