Just into August, the U.S. Treasury Department exploded a big thunder: the world's leading rating agencies announced that the U.S. long-term foreign currency issuer default rating from AAA to AA +, as never play unprepared battle Fitch, but at this time announced the downgrade, exactly why？Market participants believe that Fitch's final decision to downgrade the U.S. default rating of the "fuse," is the U.S. Treasury Department released on July 31, the third quarter of the U.S. financing plan.。Under the plan, the U.S. Treasury will borrow about $1 trillion in debt in the third quarter of 2023, nearly $300 billion more than previously announced plans to issue debt.。That's not all, and on top of that, the U.S. is expected to borrow about $852 billion more in debt in the fourth quarter, which will be another debt surge of nearly $100 billion.。Faced with such a high debt scale, the U.S. Treasury Department said there are two main reasons for the huge debt issuance, first, the current low cash balance in the fiscal deposit account, and second, the expected future fiscal revenue is low, but the expenditure is higher.。It's an indisputable fact that the U.S. government is high on fiscal denunciations in 2023, so where did all that money go?？Based on data for the first nine months of fiscal 2023, there were four projects with large year-on-year increases in fiscal spending for the year.。First, net interest expenses, the sharp increase in this expenditure is mainly due to the Fed's aggressive interest rate hikes, raising the cost of debt during the year;。