The US must refinance ~$10 trillion of maturing debt in 12 months, making buyback programs insufficient and raising fiscal crisis risk.

The US Treasury must refinance roughly $10 trillion of maturing debt within the next 12 months, forcing it to issue at higher market yields.

“Over the next 12 months they have to refinance $10 trillion of debt.”

President Trump claims $20 trillion of investment is coming into the US in one year, versus less than $1 trillion under Biden over four years.

“We have 20 trillion dollars of investment coming into the country and that's as opposed to much less than 1 trillion under sleepy Joe Biden and that was for four years. This is in one year.”