Dissecting the $14 Trillion National DebtWhile the “super committee” charged with hammering out a debt deal hits a partisan wall and threatens the American public with austerity cuts, editors at The Guardian’s Data Blog take a crack at breaking down U national debt by country At $114 trillion, China owns the biggest chunk of it, followed by Japan and the United Kingdom (more).
While the “super committee” charged with hammering out a debt deal hits a partisan wall and threatens the American public with austerity cuts, editors at The Guardian’s Data Blog take crack at breaking down U.S. national debt by country. At $1.14 trillion, China owns the biggest chunk of it, followed by Japan and the United Kingdom.
As the numbers point out, the national debt has nearly doubled in a mere six years to an astronomical $14 trillion. –ARK
Wait, before you go…
The Guardian Data Blog:
The key findings are: • As of April this year, US Treasury bonds owned overseas accounted for $4.7tn of the national debt — up 8% on last year. That’s not everything — the US now owes over $14tn. • China is the biggest owner of US [Treasury] bonds — over $1.14tn by September this year — down -0.3% on last year. • Bonds bought in the UK (mainly private investors and pension funds) are third on the list at $421.6bn — up 120.7%, which is the biggest increase. • Russia saw the biggest decrease, down 45.3% since last year to $94.6bn.
It reflects a US national debt which has grown starkly, from $7.8tn in 2005 to busting through the US debt ceiling $14.294tn earlier this year — according to these day by day figures.
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.Support Truthdig
There are currently no responses to this article.
Be the first to respond.