The U.S. just hit 25 consecutive years of fiscal deficits. That's a quarter century without balancing the books.
This isn't just a number—it's the backdrop for every conversation about dollar strength, Treasury yields, and why the Fed's hands are increasingly tied. When you're printing to pay interest on debt you printed to service earlier debt, the math gets uncomfortable fast.
For traders watching exchange rates and currency flows, this matters. The dollar's reserve status has carried us through decades of this, but that privilege isn't permanent. Every deficit year adds pressure to the system.
The question isn't whether we can keep doing this. We clearly can, until we can't. The question is what breaks first—and what that means for your money when it does.
This isn't just a number—it's the backdrop for every conversation about dollar strength, Treasury yields, and why the Fed's hands are increasingly tied. When you're printing to pay interest on debt you printed to service earlier debt, the math gets uncomfortable fast.
For traders watching exchange rates and currency flows, this matters. The dollar's reserve status has carried us through decades of this, but that privilege isn't permanent. Every deficit year adds pressure to the system.
The question isn't whether we can keep doing this. We clearly can, until we can't. The question is what breaks first—and what that means for your money when it does.