Who Owns the Debt?
I found this graph over on the Skeptical Optimist. It describes who owns the US Public Debt:
The moonbats are claiming that our national debt is owned by China. The truth is that the Chinese in 2006 owned only $321 Billion Dollars. That’s about a month and an half of what we spend. Hardly a catastrophe.
One factoid that confuses a lot of people is that or official debt is 8.7 Trillion dollars. What we owe the public is somewhat over half of that. (The light blue) The rest of the debt is what’s owed to the Social Security trust fund and other government ‘trust funds’. I guess I don’t consider that a debt we owe since any amount redeemed is going to have to be paid by the taxpayers. Social Security is a mess, but it’s not a debt.
By and large the public debt is half owned by US citizens and US businesses. The rest is owned by foreigners that feel that the US is a better place to invest their money.
