We present an assessment of the long-term debt risks for central governments and central banks in major countries, utilizing a dashboard of indicators. It highlights the significant debt burden of the US government but notes its mitigating factor as the dominant world reserve currency, while also discussing the financial situations and risks of countries like Japan and China. The author proposes a "3%, 3-Part Solution" for the US to address its rising debt, advocating for deficit reduction through a combination of spending cuts, tax increases, and crucially, interest rate reductions by the Federal Reserve. The text emphasizes that successful fiscal tightening often coincides with easier monetary policy and suggests now is a favorable time for the US to implement such adjustments due to current economic conditions.