Sign up for email updates


National Debt

Foreign Entities Hold Unprecedented Amount of U.S. National Debt

  • August 24, 2012

    Once again our Country has reached a monetary milestone thanksto President Obama’s leadership on our National Debt – which at this point isgrown higher and faster than at any time in history. According to data releasedby the U.S. Treasury Department this week, foreign entities own a record $5.293trillion, as of June 2012, of our over $15 trillion in National Debt. Theseentities purchased an additional $34.2 billion in debt from our Government soit could finance its operations.

     

    According to Treasury, the Government’s debtobligations to foreign interests have grown by 72.3 percent during President Obama’sterm in office. At the time when he entered office, the U.S. government owed$3.0717 trillion to foreign entities, and has since increased by $2.2206trillion, or 72.3 percent. Currently, Chinese entities own the majority of thatdebt, with Japan as a close second. If purchases of U.S. Government debtcontinue as they have in recent months, entities in Japan are set to become thelead holder. However, in terms of who owns the most Government debt, that distinctionbelongs to our own U.S. Federal Reserve, to the tune of $1.667 trillion.

     

    The rate at which our National Debt has exploded,as well as there being zero plan to begin closing the deficit gap, or repayingthat debt, has alarmed leaders throughout our Government. It has even promptedthen-Chairman of the Joint Chiefs of Staff Adm. Mike Mullen to call ournational debt “our biggest national security threat.” It should be unnerving toall Americans that 1/3 of our debt is owned by foreign entities; entities whichhave no allegiance to the long-term strength of America. This is an issue whichneeds to be addressed by our elected officials. Unfortunately, their kicking ofthe proverbial can has reached the end of the road. The time for action andAmerican fiscal solvency has come.


Related CW Articles

See all related stories »