The world is toast and Japan is a basket case. And Japan's new Finance Minister pledged (though no one demanded it) 5% hike in consumption tax at G20 so that the new Japanese administration continue more government wasteful spending like inviting 10,000 foreigners and IAEA to Japan and building a cancer hospital for Dr. Yamashita.
The UK paper The Economist has an interactive "global debt clock". Here's a screen shot with the public (government) debt burden per capita for Japan, the US, and Greece (basket case in EU). The numbers don't include the future government obligations like pensions and medical care programs.
I don't know how The Economist is counting the US public debt; the last I checked (conveniently on this blog, in the left column), it was well over US$14 trillion, approaching 15 trillion. But taking the numbers from The Economist, Japan has more public (government) debt than the US with the population about 40% that of the US.
Per capita public debt, according to The Economist:
Per capita public debt of the US is approaching that of the EU basket case. When George W. Bush took office, it was $10,836. When Barack Obama took office, it was $19,945. In 2012, it is expected to be $37,952, according to The Economist.