Tuesday, April 26, 2011

The U.S. Debt is over $14 trillion

The government now borrows about 42 cents of every dollar it spends


DATE                 Debt Held by the Public             Intragovernmental                         Total Public Debt
                                                                                Holdings

12/31/2008             6,369,318,869,476.54       4,330,485,995,135.59                10,699,804,864,612.13

12/31/2010             9,390,476,088,043.35       4,634,739,130,665.17                14,025,215,218,708.52


(AP) WASHINGTON - China, the biggest buyer of U.S. Treasury securities, owns a lot more than previously estimated.

In an annual revision of the figures, the Treasury Department said Monday that China's holdings totaled $1.16 trillion at the end of December. That was an increase of 30 percent from an estimate the government made two weeks ago.


My comment:
The US Government owes the Social Security Trust Fund about 18% of the total debt, or ………………..

                                                $2,500,000,000,000

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