By March 2026, the U.S. national debt is expected to reach $39 trillion, increasing by an average of $7.23 billion per day, with the recent Iran conflict alone adding $12 billion in costs over just two weeks. Interest expenses for the first five months of fiscal year 2026 totaled $520 billion, making it the second-largest expenditure item for the federal government. Meanwhile, as of December 2025, stablecoins such as Tether, which hold $122.32 billion in U.S. Treasury securities, have provided essential demand for government debt amid continuously rising deficits.