U.S. Government’s Foreign Debt Hits Record $5.29 Trillion

 

(CNSNews.com) – The money the U.S. government owes to foreign entities rose to a  record $5.2923 trillion in June, according to data released by the U.S.  Treasury Wednesday afternoon.

In May, the U.S. Treasury had owed $5.2581 trillion to foreign  entities. On net, in June, the U.S. government borrowed an additional  $34.2 billion from foreign entities in order to fund U.S. government  operations.

The U.S. government’s indebtedness to foreign interests has grown by  72.3 percent during President Barack Obama’s term in office. In January  2009, when Obama was inaugurated, the U.S. government owed $3.0717  trillion to foreign entities, according to the Treasury Department. That has increased by $2.2206 trillion—or  72.3 percent—to the record $5.2923 trillion reported for yesterday.

Entities in the People’s Republic of China remain the largest  holders of U.S. government debt. Entities in Japan, however, are on  track to eclipse the Chinese as the top holders of U.S. government debt.

In June, the Chinese held $1.1643 trillion in U.S. government debt,  up slightly from the $1.1640 trillion in U.S. government debt the  Chinese held in May. However, Chinese ownership of U.S. government debt  hit an historical peaked of $1.3149 trillion in July 2011 and has been  on a generally downward trend since then.

Entities in Japan, by contrast, have been consistently increasing  their ownership of U.S. government debt. In June, the Japanese owned  $1.1193 trillion in U.S. debt. In May, they owned $1.1089 trillion in  U.S. debt. A year ago, in June 2011, the Japanese owned only $881.5 in  U.S. government debt.

Although the Chinese maintained their place as the top foreign owners  of U.S. debt in June, they are not the top owners of U.S. debt in the  world. That distinction belongs to the U.S. Federal Reserve, which  according to its July monthly report, owned $1.667 trillion in U.S.  government debt in June.

As of the end of June, the total debt of the federal government was  $15,856,367,214,324.44. However, of that debt, $4,812,182,369,712.78 was  money the federal government owed to itself (i.e. money the Treasury  had borrowed from federal trust funds such as the Social Security Trust  Fund, etc.). The Treasury calls this type of debt “intragovernmental”  debt. The remaining $11,044,184,844,611.66 the federal government owed  as of the end of June was debt held by the “public.” This is debt in the  form of Treasury securities the government is obligated to pay off in  cash.

The combined $6.9593 trillion that U.S. Treasury owed both to foreign  entities ($5.2923 trillion) and the Federal Reserve ($1.667 trillion)  at the end of June, equaled about 63 percent of the federal government’s  debt held by the public.



Categories: Bible Prophecy, Breaking News

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2 replies

  1. Terrible! No country should owe another one for any reason.

"If My people who are called by My name will humble themselves, and pray and seek My face, and turn from their wicked ways, then I will hear from heaven, and will forgive their sin and heal their land." 2 Chronicles 7:14 God's call to the world! Are you ready?

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