It works for Somalia, I'm sure we can all strive to get to that level one day.
The US also cancelled a large amount of their debt (previously 96% of the country's GDP was going toward servicing it): https://www.theguardian.com/global-development/2024/nov/06/s...
I don't have any opinion but I do have thoughts about how the US is operating on a very different scale (who will cancel our debt, and at that scale does it matter?).