Student loan, credit card, mortgage, and public debt have all hit recent highs. Many state governments are having problems paying for their pensions. The US governments debt to GDP ratio is over 100% or over $50,000 per person. If unfunded liabilities like social security are included the US debt is over $70 trillion or over $200,000 per American citizen. The debt to GDP ratio in Japan is over 200%. Personal, student loan, corporate, and mortgage debt are also near record highs in the USA. Will tax code policy like limiting interest deductions encourage corporations to use more equity and individuals to borrow less? Is there a personal and student loan crisis? How will debt affect the future of the federal and state governments? Are there any solutions?