Dollar Collapse and the Waning of Hegemony: Federal Debt Devours the American “Enemy” Economy
Special report examining the dimensions of the U.S. financial crisis and its repercussions on the global project of arrogance
The U.S. economy is experiencing an unprecedented surge in federal debt, which topped $36.1 trillion at the start of 2025, according to U.S. Treasury data. This figure crowns a steadily rising trajectory that began with the founding of the American state and has accelerated dramatically in recent decades, driven by wars, financial crises, and unsustainably expansive government spending.
The American “Enemy”: From Inception to Bankruptcy
Debt has been woven into the fabric of U.S. history since the colonial era. From the Revolutionary War onward, obligations piled up on the infant nation, then ballooned during the Civil War from $65 million to over $3 billion. Entering the twentieth century, every subsequent conflict involving Washington fueled the borrowing machine, repeatedly breaching fiscal “red lines.”
Manufactured Crises and Wars of Domination Explode Washington’s Debt
In recent decades, the debt explosion has been driven by:
Invasions of Afghanistan and Iraq
The 2008 Global Financial Crisis
The COVID-19 pandemic
Tax cuts and stimulus packages favoring the capitalist elite
Warning Signs: When Debt Exceeds the Economy’s Repayment Capacity
By the end of 2024, America’s debt-to-GDP ratio had surpassed 123%, meaning total debt outstrips the economy’s annual output. Having crossed the 100% threshold back in 2013, this metric has evolved from an alarm bell into a full-blown financial catastrophe.
Between Public Creditors and Domestic Corruption: A Debt Web Straining the Treasury
Federal obligations break down into:
Public debt (Treasury securities) at roughly $28.8 trillion
Intergovernmental debt (e.g., Social Security and pension funds)
While market-held debt has soared, the internal portion has grown more slowly due to shrinking revenues—particularly from social insurance funds.
The Debt Ceiling: A Postponed Crisis Exposing Systemic Fragility
Since 2013, Congress has repeatedly grappled with the debt ceiling, resorting to extraordinary measures such as raiding pension reserves or delaying payments. In 2025, the specter of default returned once the cap hit $36.1 trillion, with warnings that liquidity could run dry by autumn.
Debt Service Costs: Interest Payments Strangling the Economy
For decades, low interest rates kept borrowing costs manageable. However, rising inflation has driven rates upward, pushing the projected interest burden over the next ten years above $2.5 trillion.
The Structural Deficit: A Permanent Gap Between Revenues and Military/Oligarchic Spending
The crisis is compounded by a chronic shortfall: military outlays and corporate subsidies far exceed tax revenues. The U.S. hasn’t posted a budget surplus since 2001—the last year of positive balance.
Pension and Healthcare Programs: Time Bombs Threatening the System’s Survival
According to Congressional Budget Office estimates, by 2025 retirement and healthcare spending will consume 23.5% of GDP, while revenues stagnate around 17%. This widening gap deepens the deficit and sets the stage for an uncontainable financial explosion.
The Decline of Hegemony: When the Dollar Loses Its Leverage
America’s federal debt crisis cannot be separated from the broader collapse of its global dominance. The “enemy” that once wielded the dollar as a tool of colonialism and extortion now finds itself unable to foot the bill for its own corruption and aggression. As the Axis of Resistance strengthens, the empire crumbles from within—no longer able to buy legitimacy or enforce control.
The scene is one of gradual downfall, observed by the free peoples of the world with clarity and conviction: a new dawn is being born on the ruins of an unjust international order, now on its way to extinction.