Debt ownership varies, but for the U.S. national debt, it's split between domestic and foreign entities, including the Federal Reserve, mutual funds, pension funds, banks, insurance companies, state/local governments, and individuals, with foreign investors and domestic institutions holding significant portions. Essentially, the lender owns the debt, and lenders can be anyone from another country to your local bank or a retirement fund.
According the International Monetary Fund in September 2025 total global debt was equivalent to 235 percent of global gross domestic product, of which 93% was government debt and 143% was private debt made up of Household debt and non-financial Corporate debt.
Domestically, intergovernmental holdings (social security trust funds, medicare trust funds, federal employee retirement and disability funds) control about 20% of our debt, The Federal reserve (U.S. Central bank) holds approximately 13% of our debt and domestic private investors control 42-50% (retirement accounts, ...
As the world's biggest gambling hub, Macao SAR has zero debt, bolstered by billions in gaming revenue and healthy financial reserves. Liechtenstein ranks in second, with virtually no debt and the only country in Europe ranking in the top 10.
It's highly unlikely the U.S. will ever fully "pay off" its national debt, as governments manage debt by rolling it over, issuing new bonds to pay old ones, and relying on economic growth (GDP) to keep debt manageable relative to revenue, but the growing debt load requires continuous management through budget adjustments, spending cuts, tax increases, or economic expansion to avoid financial instability, notes. The U.S. can borrow in its own currency and maintain its status as a safe asset, but excessive debt risks future economic problems if interest rates rise or investor confidence wanes, say the Brookings Institution and The University of Sydney.
Federal Reserve data shows that about 23% of Americans have no debt.
1837: Andrew Jackson
(In 1835, the $17.9 million budget surplus was greater than the total government expenses for that year.) By January of 1835, for the first and only time, all of the government's interest-bearing debt was paid off. Congress distributed the surplus to the states (many of which were heavily in debt).
He advocates for using what he calls "good debt" as leverage to buy financial assets such as real estate. In January 2024, Kiyosaki stated that he had more than $1 billion in debt.Additionally, he is a strong proponent of buying gold and silver, often referring to them as "God's money."
The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system.
Official national accounts do not currently include joint EU debt, as it is formally owned by the European Union – not individual Member States. However, Member States are collectively responsible for this debt, and ultimately, national and EU taxpayers are one and the same.
Consequently, China's stake in U.S. debt has more of a binding than a dividing effect on bilateral relations between the two countries. Even if China wished to “call in” its loans, the use of credit as a coercive measure is complicated and often heavily constrained.
US dollar-denominated debt continued to be the largest component of India's external debt with a share of 45.9% at end December 2018, followed by the Indian rupee (24.8%), SDR (5.1%), yen (4.9%) and euro (3.1%).
While exact numbers vary by survey, roughly half of Americans struggle to cover a $1,000 emergency expense from savings, meaning many have less than $1,000, though some recent polls suggest a larger portion (over 70%) might have some savings, but not necessarily enough for an emergency. Recent Bankrate data (Jan 2026) indicates only 47% of Americans have enough liquidity for a $1,000 emergency, while other reports (2024/2025) show around 25-32% have under $1,000 in total savings, with Gen Z and Millennials often having less than older generations.
Jerome Kerviel: The most indebted person in the world, owes $4.9 billion. Under the breeze of today's dropping economy, you might find it hard to repay $5,000 even if given some period. You might try to escape leaving everything behind if you find that you need to pay off $1, 00,000 in debt.
It's highly unlikely the U.S. will ever fully "pay off" its national debt, as governments manage debt by rolling it over, issuing new bonds to pay old ones, and relying on economic growth (GDP) to keep debt manageable relative to revenue, but the growing debt load requires continuous management through budget adjustments, spending cuts, tax increases, or economic expansion to avoid financial instability, notes. The U.S. can borrow in its own currency and maintain its status as a safe asset, but excessive debt risks future economic problems if interest rates rise or investor confidence wanes, say the Brookings Institution and The University of Sydney.
There is no IRS forgiveness plan officially introduced by Trump in 2025. While some campaign proposals have discussed tax simplification or reduced rates, they do not include debt cancellation for individuals with unpaid taxes.