Reuters and Bloomberg reported that US Treasury Secretary Bessent said in an interview with CBS' "Face the Nation" program on Sunday (June 1): "The United States will never default. This will never happen. We are at the alert line, and we will never hit the wall."
The problem of US debt is becoming increasingly serious, with a large amount of US debt still growing continuously. As of the end of April 2025, the balance of US national debt reached as high as 36.2 trillion US dollars. Among them, about 76% is held by domestic US investors, and about 24% is held by international investors.
Bessent refused to clearly define the "X date" (the point in time when the Treasury runs out of cash, unable to maintain the debt ceiling through special accounting methods and fulfill federal obligations on time), only emphasizing over and over again that there would be no default, which was difficult to truly reassure the market. Behind Bessent's statement of "never defaulting" is the long-term behavior of the United States using the dollar hegemony to transfer domestic economic contradictions by constantly borrowing and printing money, exporting inflation and risks to the global economy.
A US debt default would have serious consequences, not only impacting its own economy and politics, but also causing significant shocks to the global financial system and economic order.
Original article: https://www.toutiao.com/article/1833794086568136/
Disclaimer: The article represents the author's personal views.