'Trust Doesn't Collapse Overnight': Experts Warn US Debt Is Now Accelerating America's Rivalry With China

Source: International Business Times

The United States is on course to borrow more than $2 trillion in a single fiscal year, and those responsible for managing it are running out of polite language. New figures released by the US Treasury on 7 May 2026, in its quarterly refunding presentation to the Treasury Borrowing Advisory Committee (TBAC), show the Office of Management and Budget (OMB) now projects the current fiscal year deficit at $2. 06 trillion.