Why Is the U.S. Enriching Foreign Banks While Going Deeper in Debt?

In this American Greatness article, the author questions why the United States continues borrowing at historic levels while paying billions in interest to foreign banks and governments that hold U.S. debt.

• The U.S. national debt continues climbing as Washington runs persistent deficits despite political promises of fiscal restraint.
• A significant share of U.S. Treasury securities is held by foreign governments and financial institutions, meaning American tax dollars flow overseas in the form of interest payments.
• The article highlights concerns that geopolitical rivals such as China benefit financially from America’s borrowing habits.
• Rising interest rates have dramatically increased federal interest payments, making debt service one of the fastest-growing budget items.
• The author argues that both parties share responsibility for runaway spending and deficit financing.
• Heavy reliance on foreign creditors is framed as a national security vulnerability as well as an economic risk.
• The piece suggests that without structural reforms, entitlement spending and continued borrowing will push the nation deeper into fiscal instability.
• The article calls for serious debate over fiscal discipline, domestic investment, and reducing dependence on foreign capital.

Read the full story: https://amgreatness.com/2026/02/28/why-is-the-u-s-enriching-foreign-banks-while-going-deeper-in-debt/