Coinbase CEO Brian Armstrong Says US Constitution Is Missing Two Fiscal Safeguards as Debt Tops $39 Trillion

Coinbase Global Inc. (NASDAQ: COIN ) CEO Brian Armstrong warned that the U.S. constitutional framework lacks built-in fiscal constraints, arguing that this gap has contributed to surging federal debt now exceeding $39 trillion and rapidly rising interest payments.

US Debt Crisis Concerns Grow On Wednesday, in a post on X, Armstrong said: "The US Constitution was the most important political innovation ever, but it’s missing two important things: 1) A cap on the growth of government spending 2) A requirement for hard-backed currency." He argued that without such limits, "every democracy drifts toward more debt and eventual loss of reserve currency status," citing Ray Dalio’s The Changing World Order.

Armstrong added that U.S. debt has reached roughly $39 trillion and is increasing by about $1 trillion every 100 days, while interest costs have climbed above defense spending. "There is no mechanism to stop it," he said, pointing to what he described as structural political incentives that reward spending promises while shifting long-term costs to future taxpayers.

He wrote that politicians are often elected by offering benefits funded by others, creating what he called an imbalance where "some voters get a benefit today, while the negative impact… goes to future generations who can’t vote yet." He further said, "The incentive structure is broken." The US Constitution was the most important political innovation ever, but it's missing two important things: 1) A cap on the growth of government spending 2) A requirement for hard-backed currency Without them, every democracy drifts toward more debt and eventual loss of… — Brian Armstrong (@brian_armstrong) July 1, 2026 Read Also: Coinbase CEO Brian Armstrong Says AI Will Favor Defenders Over Attackers in Cybersecurity Trump Defends US Debt Earlier, President Donald Trump defended the rising U.S. national debt, comparing it to real estate leverage and saying the nation remained strong despite nearly $40 trillion in obligations.

He argued that America’s total asset value made it "under-levered" and suggested potential government equity stakes in companies.

Meanwhile, Bridgewater Associates founder Dalio warned that rising global debt and higher borrowing costs were straining the financial system.

He compared excessive debt to "plaque" in an economic circulatory system, saying it slows growth when debt rises faster than income and debt servicing begins to "squeezing out spending." Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors.

Read Also: Anthony Scaramucci Says Trump Has 'No Economic Philosophy,' Warns He Is On Pace To Spend $10 Trillion In Second Term Photo courtesy: Shutterstock