The national debts don't matter. Ultimately they are irrelevant. There is not enough money in the world to cover them, and there will be defaults, a complete worldwide economic implosion, and wars, and mass killings, after it's over we have another little golden age, and we'll do it all again like it's been throughout history. Collectively, we never learn in the long run as an entire species. (Of course a lot of cultures did get it right, but note how they're all destroyed. They didn't need this Hell Hole of Earth anymore.) Individually we do, and we get off the wheel of reincarnation then.
This is a good video somewhat related:
I'll also agree 1000% with the observation of the stupidity of the human race in the latter part of the video.