It's an interesting combination. American's also have $18.5Tn in personal debt, that's been climbing at a rate of about $500Bn per year this century (up 124% since 2000) and accounts for 2.5% of our GDP, which is growing at less than 2% so the ENTIRTY of our economic growth is debt-financed. Even more so becasue our Government is going $1Tn per year into debt too, that's 5% of our GDP ($19.3Tn) in Government debt and that does not include the $500Bn a year the Fed has been adding to its balance sheet through the continuing QE program – that's another 5%.
So, 12.5% of our MAYBE 3% GDP growth is nothing more than deficit spending which means the real economy is DOWN 9.5% if, like Greece, we were forced to balance our budgets. Of course, balancing our budgets is out of the question because your share of the National Debt is $208,079 and, if you have a family, we're looking over $800,000 just to pay off your Government's share – before you even begin to do something about your own mess.
Logically then, this debt is uncollectable. Most people don't have $800,000 and aren't likely to get it in the near future. Even if we made the Top 10% pay 10x, that's "$8M" for our top 1M families, which would be $8Tn but only the Top 0.01% have that kind of money and good luck getting President Trump to pay that bill!