I was looking at the US debt ceiling yesterday, and marvelled at how it now tops 34 trillion, with little liklihood that it will ever be all paid back.
However, it go me to thinking exactly who was owed all this debt.
Much has been mad of China in turn accruing then dumping US debt, but when you look at the breakdown, it is somewhat surprising (well it was to me!).
The biggest component at 20% of the debt is part of the intergovernment agency debt.
The next biggest at 17% is the US citizens and corps that hold savings bonds.
Next biggest at 15% (but probably less since this was put together)was our old mates at the US Fed.
Then we get down to Mutual funds depostory institutions pensions funds etc.
Indeed, nearly 80% of US debt is held within the USA.
Japan, rather than China, is the biggest foreign coutnry ownership at 3% followed by China at 2%.
From
Visual Capitalist.
View attachment 193439
Mick