Department of the Treasury, foreign countries held a total of 7. Of the total 7. China held 1. Japan held 1. Other foreign holders included oil exporting countries and Caribbean banking centers. In , the United States had a total public national debt of In , the total interest expense on debt held by the public of the United States reached billion U. Total outlays of the U. By , spending will reach 5. Loading statistic Show source. Download for free You need to log in to download this statistic Register for free Already a member?
Log in. Show detailed source information? Register for free Already a member? Government Accountability Office. Department of Treasury. Treasury Bonds. Your Privacy Rights. To change or withdraw your consent choices for Investopedia.
At any time, you can update your settings through the "EU Privacy" link at the bottom of any page. These choices will be signaled globally to our partners and will not affect browsing data. We and our partners process data to: Actively scan device characteristics for identification. I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Key Takeaways Roughly three-quarters of the government's debt is public debt, which includes Treasury securities.
Japan is the largest foreign holder of public U. China ranks second in total U. This is not necessarily the case for Chinese lending, which gives rise to important questions of creditor seniority.
For example, if a nation indebted to China turns to the IMF, officials should be aware that any funds the IMF disburses may be used to pay another official creditor, China, rather than be used to blunt market strains.
Since , two dozen developing countries have restructured their debt to China. This recent increase in the incidence of sovereign debt restructurings of Chinese debt may have a benign interpretation, but given the slower growth and lower commodity prices of recent years, it may well be a sign of brewing liquidity and solvency problems in numerous developing countries.
You have 1 free article s left this month. You are reading your last free article for this month. Subscribe for unlimited access. Create an account to read 2 more. Reinhart, and Christoph Trebesch. Read more on Economics or related topics Financial markets and Emerging markets.
His research projects focus on international capital flows, sovereign debt and financial history. Carmen M. Reinhart is the Minos A. Congress keeps raising the debt ceiling to finance government spending. A deficit occurs when spending increases faster than revenues. The public owes 74 percent of the current federal debt. The public includes foreign investors and foreign governments.
These two groups account for 30 percent of the debt. Individual investors and banks represent 15 percent of the debt. The Federal Reserve is holding 12 percent of the treasuries issued. The Federal Reserve has been purchasing these bonds to keep interest rates low after the Financial Crisis. States and local governments hold 5 percent of the debt.
Foreign governments who have purchased U. Investing in U.
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