Who owns America? Hint: It's not China
Editor's Note: The following piece comes from Global Post, which provides excellent coverage of world news – important, moving and odd.
By Tom Mucha, Global Post
Truth is elusive. Â But it's a good thing we have math.
Our friends at Business Insider know this, and put those two principles to work today in this excellent and highly informative little slideshow, made even more timely by the ongoing talks in Washington, D.C. aimed at staving off a U.S. debt default.
Here's the big idea:
Many people — politicians and pundits alike — prattle on that China and, to a lesser extent Japan, own most of America's $14.3 trillion in government debt.
But there's one little problem with that conventional wisdom: it's just not true. While the Chinese, Japanese and plenty of other foreigners own substantial amounts, it's really Americans who hold most of America's debt.
Here's a quick and fascinating breakdown by total amount held and percentage of total U.S. debt, according to Business Insider:
- Hong Kong: $121.9 billion (0.9 percent)
- Caribbean banking centers: $148.3 (1 percent)
- Taiwan: $153.4 billion (1.1 percent)
- Brazil: $211.4 billion (1.5 percent)
- Oil exporting countries: $229.8 billion (1.6 percent)
- Mutual funds: $300.5 billion (2 percent)
- Commercial banks:Â $301.8 billion (2.1 percent)
- State, local and federal retirement funds:Â $320.9 billion (2.2 percent)
- Money market mutual funds:Â $337.7 billion (2.4 percent)
- United Kingdom:Â $346.5 billion (2.4 percent)
- Private pension funds:Â $504.7 billion (3.5 percent)
- State and local governments:Â $506.1 billion (3.5 percent)
- Japan:Â $912.4 billion (6.4 percent)
- U.S. households:Â $959.4 billion (6.6 percent)
- China:Â $1.16 trillion (8 percent)
- The U.S. Treasury:Â $1.63 trillion (11.3 percent)
- Social Security trust fund:Â $2.67 trillion (19 percent)
So America owes foreigners about $4.5 trillion in debt. But America owes America $9.8 trillion.
For a smart take on how President Obama and House Republicans should end gridlock over debt and deficits, see our new GlobalPost series The Negotiator, which features Wharton's negotiation guru Stuart Diamond.
And to bone up on China's debt — another potentially big global economic headache — check out this interview with brainy-yet-coherent Northwestern University economist Victor Shih, who spoke with GlobalPost's David Case.
soundoff (1,231 Responses)
« Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22Leave a Reply to Lothar Budike
@fareedzakaria on Twitter
RSS
Oh my goodness! an amazing article dude. Thank you However I am experiencing issue with ur rss . Don’t know why Unable to subscribe to it. Is there anyone getting identical rss problem? Anyone who knows kindly respond. Thnkx
http://autop.ca/autos/infiniti/g37/2012-infiniti-g37-sport-model-navigation-1-owner-42-900.00-used-1.html
You've got shared the most beneficial collection ever. "Sleek Minimal PSD Website" is definitely an incredible PSD.
http://www.F8lV5WP1yx.com/F8lV5WP1yx
I'm interested in fashion and I want to start a blog but I have no idea where to start or how to get people interested in my blog. Any ideas welcome..
http://renewableenergydevices.com.au/filter/agri-solar-systems/
Now ask me who owns America? The same one who put Life on the map.
You are correct in what you say but go one step further he also own's you. The one who made you also owns you. He gave you freedom of choice when he made you also.
My Question to D. J. Trump on banning Muslims in America: Is he (Donald Trump) planning to ban U.S. permanent residents, legally residing in USA visa holders (like H1-B, L-1 etc.) and Muslim diplomats from Muslim countries and countries with large Muslim populations?
I want to share a fastest and a hazzle free way to purchase a toyota car in the philippines. You only do one step that is to fill-up an online form. Then thats it they will do the rest up to delivering your car into your doorstep.Visit their showroom at http://www.ownatoyotaph.com
http://www.ownatoyotaph.com
now to get the government from taking out more and more loans in our name, to give to other countries and idiots ..I mean individuals.
Just so hard to believe that federal agents in the United States only make around 30 k starting out.
It would be interesting to see these numbers updated to 2016 ....
the real numbers are more like 126 Trillion gold bars!!!!
You're an extremely helpful internet site; could not make it without ya!
cheap madden nfl 17 coins http://www.freewebsite-service.com/VeraFreda/A%2BComplete%2BInformation%2Bon%2BMadden%2B17.php?id=963378&snavn=madden+mobile+coins+lost+or+winning+by+you
Glad to hear its not the Jews
The largest holder of US debt seems to be unknown since the figures add up to $10.8 trillion leaving $3.5 trillion of the $14.3 trillion unaccounted for. Why is the 11.3% of the debt that is owned by the US treasury counted as debt? What is sum of state and local debt?
http://healingwithplants.us/groups/tips-para-cuidar-del-cabello-canoso-gris-o-blanco-viva-fifty/
aimpossiblet http://cgenrx.com
diabetes and cialis tablets
zgoneg cialis online
And that doesn't include wages for work and misery completed between 1619 and about 1965.
Incase you want to buy TBC "The billion coin" info me on facebook at Moscoent
We can always check Dun & Bradstreet by doing a Business Directory search under The United States or under the State of California etcetera to come up with such data as how much the State costs and so on..
Regularly I tend not to make comments on websites, however I will need to point out that this blog post genuinely compelled me to take some action. Quite notable content.
check that http://ricardoasiwu.digiblogbox.com/1124959/these-online-shopping-ideas-are-the-best-around
Is there a contract between USA and federal reserve?
I was going to share but I saw it was CNN, No thank you! America deserves a news outlet that’s honest and truthful.. don’t trust them
If china demands the return of its debt in full in a stipulated time what would US do?
"Best Blogpost! You post interesting articles here. Your blog deserves_ much more visitors."
https://zorgoplichters.wordpress.com/2017/10/01/frauderende-zorgmanager-stef-mentzel-opnieuw-aan-de-slag-in-de-zorg/
I don't comment, however after looking at through a few of the responses on. I actually do have some questions for you if it's allright. Could it be simply me or does it give the impression like a few of these responses appear like they are left by brain dead people? 😛 And, if you are writing on additional online sites, I'd like to follow anything new you have to post. Could you list of every one of your social pages like your twitter feed, Facebook page or linkedin profile?
Web Marketing Strategy Mistakes | Plus Solutions to Fix Them! https://t.co/mO1Jh97nfP— Kate Kowalsky (@katekdesigns) April 29, 2018https://platform.twitter.com/widgets.js
I want my rewards now ok I will keep going till I get my rewards an I want the President to bring them to me