PANews reported on December 5th that the total sovereign debt issued by the U.S. Treasury has surpassed $30 trillion for the first time, more than doubling since 2018. Data released on Thursday showed that as of November, the total outstanding U.S. government Treasury bills, notes, and bonds reached $30.2 trillion. This $30.2 trillion debt is the main component of the total U.S. federal debt. As of November, the total U.S. national debt reached $38.4 trillion, including debts to Social Security Trust Funds, savings bondholders, and others. According to data from the Securities Industry and Financial Markets Association, the U.S. raised $4.3 trillion in 2020 through the issuance of these three types of Treasury bonds, with a fiscal deficit exceeding $3 trillion that year. Although the deficit has since narrowed (reaching approximately $1.78 trillion in fiscal year 2025), interest payments alone have reached $1.2 trillion. Citigroup interest rate strategist Jason Williams pointed out: "The biggest challenge is interest expenses. Even if tariff revenue reaches $300-400 billion, it will still be far less than the interest we pay on our existing debt. We are like sinking into quicksand. Tariffs may slow us down a little, but we are still sinking."