#Strategy加仓BTC The US Treasury's accounting is becoming increasingly complicated. Just three months into the 2026 fiscal year, the deficit has soared to $602 billion, the second-highest in history. In December alone, the deficit reached $145 billion, making it the worst December on record.

The truth behind the numbers is even more sobering—over just three months, the US government has directly burned through $1.83 trillion, a pace that is unprecedented in history.

What worries the market the most is debt interest. This expense has now reached $355 billion, nearly one-fifth of the government's total expenditure. In other words, almost one-fifth of the money the US government earns each day goes toward paying interest on debt—money that doesn't go into infrastructure, education, or any productive investments, but simply pays off past decisions.

Economists summarize this dilemma as a vicious cycle: the more debt piles up, the more the government needs to borrow, leading to a surge in Treasury supply, which directly suppresses the space for interest rate cuts. Want to cut spending? Politicians are too afraid. Want to raise taxes? Voters will flip immediately. Printing money? Inflation will explode right away.

No politician is willing to make tough choices among these three options, so now the situation has fallen into a deadlock. The debt spiral has already started turning, and its speed is increasing. This is not a warning sign of the future; it is a reality unfolding right before our eyes.

Participants in the crypto market see this logic more clearly than anyone. When the traditional financial system faces such a predicament, more and more people are beginning to consider the necessity of alternative asset allocations. After all, the historical data is there, and interest rate trends do not lie.