This is alarming, but you’d also need to look at national assets for each country. For a company, sometimes you lend off cash flow. Other times, you lend off assets. I actually don’t know how the US looks on assets, but I bet it’s substantial with all the land and national parks.

Either way, we’re in an awful position. Interest + current entitlement obligations exceeding tax receipts is a bad signal, and even if we could sell assets to pay off debt…who has $36T of capital to buy our assets?