The U.S. debt crisis intensifies:

About 26% of U.S. federal debt will mature in the next 12 months, marking one of the largest debt maturity ratios in this century.

In contrast, the peak in 2020 was around 29%, when the interest rate set by the Federal Reserve was 0%.

Between 2010 and 2020, this ratio remained below 20%.

The current interest rate is 3.75%, and the market expects two rate cuts this year.

This means that approximately $100000000000 must be refinanced at higher rates within the next year.

Meanwhile, the U.S. Treasury has turned to issuing short-term bonds to minimize recent interest costs.

Who will bear all this debt?