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| US debt: how big is it and who owns it? | US debt: how big is it and who owns it? |
| (14 days later) | |
| US federal debt is still a record high. This week it passed a milestone: the fourth straight year the deficit has passed the $1tn mark. As of today, the national debt stands at $16,066,241,407,385.80 (just over $16 trillion). | US federal debt is still a record high. This week it passed a milestone: the fourth straight year the deficit has passed the $1tn mark. As of today, the national debt stands at $16,066,241,407,385.80 (just over $16 trillion). |
| It's an issue that's sure to come up in the first presidential debate this Wednesday. | It's an issue that's sure to come up in the first presidential debate this Wednesday. |
| So, how does the US borrow money? Treasury bonds are how the US - and all governments for that matter - borrow hard cash: they issue government securities, which other countries and institutions buy. So, the US national debt is owned mostly in the US - but the $5.4tn foreign-owned debt is owned predominantly by Asian economies. | So, how does the US borrow money? Treasury bonds are how the US - and all governments for that matter - borrow hard cash: they issue government securities, which other countries and institutions buy. So, the US national debt is owned mostly in the US - but the $5.4tn foreign-owned debt is owned predominantly by Asian economies. |
| Under President Obama's first term, that figure has gone up from $3tn, a rise of 74.1%. Under George W Bush, it went up too - by 85% over the whole two terms - and 64% in his second term alone. | Under President Obama's first term, that figure has gone up from $3tn, a rise of 74.1%. Under George W Bush, it went up too - by 85% over the whole two terms - and 64% in his second term alone. |
| The US Treasury releases the figures on this every quarter - we have made them more useable. So, who has the most? | The US Treasury releases the figures on this every quarter - we have made them more useable. So, who has the most? |
| name="site_root" value="" /> name="name" value="USTreasuryBonds/USTreasuryBonds" /> name="tabs" value="no" /> name="toolbar" value="yes" /> value="http://public.tableausoftware.com/static/images/US/USTreasuryBonds/USTreasuryBonds/1.png" />Powered by Tableau Graphic by Craig Bloodworth at the Information Lab
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| The key findings are: • As of July this year, US Treasury bonds owned overseas accounted for $5.4tn of the national debt - up 14.6% on last year. That's not everything - the US now owes over $16tn. • China is the biggest owner of US Treasury bonds - over $1.14tn. But it's down 12.6% on last year, backing up reports that China is selling off its US treasury bonds • Bonds bought in the UK (mainly private investors and pension funds) make it the eighth country on the list at $140.9bn - up 13.5% on January 2009 when Obama took over | The key findings are: • As of July this year, US Treasury bonds owned overseas accounted for $5.4tn of the national debt - up 14.6% on last year. That's not everything - the US now owes over $16tn. • China is the biggest owner of US Treasury bonds - over $1.14tn. But it's down 12.6% on last year, backing up reports that China is selling off its US treasury bonds • Bonds bought in the UK (mainly private investors and pension funds) make it the eighth country on the list at $140.9bn - up 13.5% on January 2009 when Obama took over |
| It reflects a US national debt which has grown starkly, from $7.8tn in 2005 to busting through the US debt ceiling of $14.294tn last year - according to these day by day figures. | It reflects a US national debt which has grown starkly, from $7.8tn in 2005 to busting through the US debt ceiling of $14.294tn last year - according to these day by day figures. |
| Bad as that number is, using the bald total figure is not as representative as using a measure which compares the debt to the size of the economy. That is, debt as a percentage of gross domestic product - GDP. And, looking at that figure up to the end of 2010 (using OECD data), Britain is actually worse off than the US. | Bad as that number is, using the bald total figure is not as representative as using a measure which compares the debt to the size of the economy. That is, debt as a percentage of gross domestic product - GDP. And, looking at that figure up to the end of 2010 (using OECD data), Britain is actually worse off than the US. |
| The full data is below. What can you do with it? | The full data is below. What can you do with it? |
| Data summary | Data summary |
| MAJOR FOREIGN HOLDERS OF TREASURY SECURITIES (in billions of dollars), HOLDINGS AT END OF PERIOD | MAJOR FOREIGN HOLDERS OF TREASURY SECURITIES (in billions of dollars), HOLDINGS AT END OF PERIOD |
| $bn. Click heading to sort table. Download this data | $bn. Click heading to sort table. Download this data |
| SOURCE: US TREASURY | SOURCE: US TREASURY |
| NOTES 1) Estimated foreign holdings of U.S. Treasury marketable and non-marketable bills, bonds, and notes reported under the Treasury International Capital (TIC) reporting system are based on annual Surveys of Foreign Holdings of U.S. Securities and on monthly data. 2) United Kingdom includes Channel Islands and Isle of Man. 3) Oil exporters include Ecuador, Venezuela, Indonesia, Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, Algeria, Gabon, Libya, and Nigeria. 4) Caribbean Banking Centers include Bahamas, Bermuda, Cayman Islands, Netherlands Antilles and Panama. Beginning with new series for June 2006, also includes British Virgin Islands. | NOTES 1) Estimated foreign holdings of U.S. Treasury marketable and non-marketable bills, bonds, and notes reported under the Treasury International Capital (TIC) reporting system are based on annual Surveys of Foreign Holdings of U.S. Securities and on monthly data. 2) United Kingdom includes Channel Islands and Isle of Man. 3) Oil exporters include Ecuador, Venezuela, Indonesia, Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, Algeria, Gabon, Libya, and Nigeria. 4) Caribbean Banking Centers include Bahamas, Bermuda, Cayman Islands, Netherlands Antilles and Panama. Beginning with new series for June 2006, also includes British Virgin Islands. |
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