Today you may have read about a global economy-devastating possibility of a US government default (and everything they are doing to raise the debt ceiling), but have you seen this national debt clock?
It's just mind blowing.
I was first concerned about US debt around 15 years ago. That was when it was an issue for me, personally. Back then it was impossible to get anyone to take the US deficit seriously. It was still impossible to convince americans to take the deficit seriously when Trump ran for President in 2016.
Recently, something strange happened. Americans have begun to take topics like the deficit much more seriously than in the past. It may have been the 2020 pandemic which triggered it. As someone who observed for 15 years, the shift in public perception is palpable. People appear to be learning, becoming more literate about topics relating to finance and economics more quickly than expected. It is a refreshing thing to see people begin to care about relevant topics which might have an impact upon their future.
It could be worth noting that the united states isn't the only nation in the world with debt that is a decent chunk of GDP. Many nations of the world have similar liability issues and are identically attempting to print and spend their way out of it. While de dollarization is a real thing and many nations are taking steps to abandon the US dollar as an international reserve currency. These steps alone will not be enough for nations of the world to insulate themselves from their own national debt.