The US Treasury publishes monthly statements, including the federal debt. There are at least two places in the web where you can find the monthly statements (single page summaries) going back multiple decades. The most interesting and important detail is that the statement literally details what % of the debt is owned by the govt. and what % by the people. Until several years ago, the % owned by the govt was always a clear majority 2/3ds - 3/4. It became near 50-50 several years ago. This is cause for alarm.
Is the actual amount significant? That is a difficult question. But it is important to understand what causes the federal debt to rise more than anything else. And what is that?
For example, the process of "borrowing money from China", as our economists refer to it. This, yes, does cause the debt to rise. And the rate is commensurate with the consumption and price of a particular commodity, OPEC crude.
Many of you might find yourselves disagreeing with the interpretation (borrowing from China), when the Chinese literally exchange their currency for US Treasury notes in order to purchase from OPEC. And it is necessary to understand the OPEC agreement, why the US dollar is the almighty God for doing business for this commodity.
The reason the dollar is the world's strongest currency is because it is used to measure the majority of the world's value. If and when that day comes, that the dollar is used to measure a value, a worth, a wealth, the world over, less than the US Federal debt, the day of reckoning does come. And if ever the dollar were to lose it's leverage over the world oil market, that day comes sooner.
Burning question: how will this oil production battle between the Saudis and Russians play out? Not sure personally. But it would seem a very good strategy in the meantime would be to come up with a reason, any reason maybe, to lower world demand. Thanks Wuhan??