That’s the share of the entire United States national debt, accumulated across 250 years of wars, recessions, New Deals, and pandemic bailouts, that Rep. Thomas Massie says will be added during just the first half of Donald Trump’s second term. The bill that started the clockThe centerpiece of Massie’s concern is the One Big Beautiful Bill Act, signed into law on July 4, 2025. He’s also pointed out that the interest payments on this new debt exceed what the federal government spends on infrastructure. It can raise taxes, cut spending, or inflate the debt away by printing money and accepting a weaker currency. If the Fed keeps rates elevated to fight inflation driven partly by deficit spending, liquidity stays tight and crypto faces headwinds.