Can Federal debt ever be retired?

There are 1210 billionaires in the world as of march 2011 accordimg to the World billionaires list of Forbes. To retire the U.S.A. debt. you would need 14.3 thousand billionaires to pony up $1000 million each (1 billion dollars). Put another way there are over 310,000,000 people in the USA. For them to retire our 14.3 trillion in debt each would have to give over $46,000. Isn't it easier to quit budgetary over runs?