Yeah donating for the debt is equivalent to literally burning money. The us’s biggest debt buyer is the US fed reserve. Bonds offered to foreign buyers absorbs loose worldwide cash. The supply of dollars is always less than demand because petroleum must be traded in dollars. And demand exceeds supply because IMF loans are denominated in dollars, plus interest, meaning that demand perpetually keeps going up because the interest keeps rising, simply because the clock ticks.

So what is the point of the debt? To convince govt should not be too big nor suck up to many of the worldwide human capital resources.