Public debt has surged globally in the aftermath of the COVID-19 pandemic. As governments face mounting pressure to consolidate budgets, public support for fiscal reform becomes critical. Yet, new cross-country evidence from a large-scale international survey reveals that citizens often misjudge debt levels, misunderstand fiscal mechanics, and anticipate personal losses from consolidation efforts. These perceptions are shaped by both cognitive biases and historical experience and pose considerable challenges for policymakers as they grapple with bringing debt down. This note synthesizes findings from a recent survey of 27,000 respondents across 13 countries with varying levels of public debt, highlighting the role of misperception, memory, and mistrust in shaping the politics of debt. It concludes with policy recommendations for improving fiscal communication and rebuilding public trust.