When a ‘too big to fail’ America meets a government too broke to bail it out
Photo by Andrew Harnik/Getty Images
Total U.S. debt — public and private — hit $102.2 trillion in 2024. Washington cannot rescue a single major sector, let alone all of them. The national debt was $10 trillion during bailout 2008. It’s four times that now. The dollar buys less. Foreign creditors show less patience.
So who steps in next time? Who buys the treasuries? Who absorbs the losses?
No one. Not abroad. Not at home. Nowhere on this planet.
That leaves Washington with only one move: Print tens of trillions in new dollars and hand them to itself — more IOIs (as opposed to IOUs) stacked on a pile already ready to topple.
And that printing wave will obliterate whatever value the dollar still holds.
Think the dollar’s fallen far? You haven’t seen anything yet.
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