system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: Most countries in the world seem to be in debt. Who exactly do they owe? Are there any consequences for them being in debt?
gpt
They owe regular people mostly. The vast majority of US debt, for example, is owned by American citizens in the form of government bonds. It makes more sense if you recognize it's not the country, but the government that's in debt. Just like a company can borrow from banks or private investors, the government can borrow from people or other countries (in the form of government bonds).