The US government's soaring debt, exceeding 100% of GDP, poses significant domestic and global threats. Persistent budget deficits, exacerbated by military spending, fuel a self-worsening debt spiral. The GAO warns of higher borrowing costs, stagnant wages, and expensive goods for Americans. Despite the dollar's reserve status, fiscal profligacy leads to bond oversupply, forcing higher interest rates that slow investment and growth. This US economic instability will adversely affect global economies, especially emerging markets reliant on dollar exports, as dearer credit in the US raises rates worldwide.