Ever wondered who owns the debt if all the countries are in debt?
The simple answer is, IT'S YOU!
The money in your bank accounts is the debt you give to your bank, the banks take your money and buy (sometimes forcefully) treasury bonds with it.
Treasury bonds are essentially government debt.
So it's you. You own the government debt through the proxy of a bank. If the government defaults, your bank fails and the money you have in your bank accounts is gone. Which is what happens.
This is yet another case of overcomplicating a simple answer because they don't want the general populace to know.
#bitcoin is the exit. Use it fast.