This paper analyses the prospects for debt stabilisation in European Union countries, the United Kingdom, and the United States using stochastic debt sustainability analysis and estimated fiscal reaction functions. We find that (1) debt-stabilising primary balances are generally within historical precedent well below 3 percent of GDP; (2) fiscal adjustment required to reach such balances is very high in several countries, including France, the United Kingdom and the United States; (3) the feedback coefficient from debt to the primary balance remains positive but has declined since the global financial crisis and lost statistical significance in most countries, implying that debt stabilisation is uncertain.