The 2008 financial crisis wasn’t fixed — it was refinanced.

To keep the system from imploding, the U.S. used short-term debt to bail out the banks, pump the markets, and buy time. That “temporary emergency fix” became permanent policy. Instead of paying off debt, we’ve been rolling it over. Every few years, we issue new debt to pay off the old debt — at higher interest rates — and pretend we’re still solvent.

That’s why there’s always a government shutdown headline every 4–5 years. It’s not about running out of money — it’s about refinancing maturing IOUs and pretending that’s sustainable.

As of 2025, the U.S. is rolling over $36 trillion in public debt. The Fed can’t cut rates without reigniting inflation. Congress can’t stop spending without collapsing the economy. We’re stuck. So now the only “solution” left on the table is to make the debt cheaper by devaluing the dollar itself.