We all know that the US owes a significant amount of money. The amount of debt has been a cause for much debate regarding the levels the reasons why, how to deal with it ans so forth.
But one question not easily answered at least that I was aware of is where is the debt. To whom do we owe $14,300,000,000,000.
I believe I found it.
$6 Trillion – Federal Reserve & US intragovernmental holdings
$3.8 Trillion – State and local government as well as US citizens
$1.1 Trillion – China (not as large an amount as I had expected)
$0.9 Trillion – Japan
$2.4 Trillion – Other foreign governments (I hope this is not from foreign aid dollars we gave them)
Yes, the total is off, but I believe that is do to rounding or just governmental accounting…
Now if we could just get the first two or three to forgive the debt; we could start all over again.