FAQs
Of the $33T of debt, roughly 78% is owned by the public (70% US vs 30% International). The major US public owners include the FED ($6T, but they are no longer buyers), mutual funds, banks, states, pension funds and insurance companies.
Who has the most amount of debt in the world? ›
United States. The United States boasts both the world's biggest national debt in terms of dollar amount and its largest economy, which resolves to a debt-to GDP ratio of approximately 128.13%. The United States' government's spending exceeds its income most years, and the US has not had a budget surplus since 2001.
How much does the US owe China? ›
How did USA owe China so much money? The U.S. debt to China is approximately $1.059 trillion. That's 27.8 percent of the $3.8 trillion in treasury bills, notes, and bonds held by foreign countries. The rest of the $19.9 trillion national debt is owned by either the American people or by the U.S. government itself.
How much debt is the US in 2024? ›
U.S. publicly held debt 2013-2024
In April 2024, the public debt of the United States was around 34.62 trillion U.S. dollars, more than two trillion more than in July when it was around 32.6 trillion U.S. dollars.
What happens if China dumps US debt? ›
If China (or any other nation that has a trade surplus with the U.S.) stops buying U.S. Treasuries or even starts dumping its U.S. forex reserves, its trade surplus would become a trade deficit—something which no export-oriented economy would want, as they would be worse off as a result.
What country owns most of the United States debt? ›
Nearly half of all US foreign-owned debt comes from five countries. All values are adjusted to 2023 dollars. As of January 2023, the five countries owning the most US debt are Japan ($1.1 trillion), China ($859 billion), the United Kingdom ($668 billion), Belgium ($331 billion), and Luxembourg ($318 billion).
Who do the US owe money to? ›
In total, other territories hold about $7.4 trillion in U.S. debt. Japan owns the most at $1.1 trillion, followed by China, with $859 billion, and the United Kingdom at $668 billion. In isolation, this $7.4 trillion amount is a lot, said Scott Morris, a senior fellow at the Center for Global Development.
Will the US ever get out of debt? ›
Why History Shows the United States Will Not Grow Out of Its Debt. The United States is approaching record levels of debt. Debt held by the public totaled 97 percent of gross domestic product (GDP) at the end of 2022 and is on track to exceed its previous all-time high, which occurred just after World II, by 2029.
How much land does China own in the United States? ›
China owns 384,000 acres of American agricultural land. That's a 30% increase just since 2019. And on top of that, they own land near an air force base in North Dakota.
How much is the entire US worth? ›
The financial position of the United States includes assets of at least $269 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP).
Russia National Government Debt reached 281.6 USD bn in Feb 2024, compared with 287.8 USD bn in the previous month. Russia National Government Debt data is updated monthly, available from May 2009 to Feb 2024. The data reached an all-time high of 384.2 USD bn in Jun 2022 and a record low of 86.1 USD bn in May 2009.
Who has more money than the US government? ›
For context, 31 billionaires are each worth more than the federal government's $38.8 billion in cash, according to the Bloomberg Billionaires Index. Some of them, like fashion mogul Bernard Arnault – are worth a lot more. Arnault, the chairman of luxury goods maker LVMH, has a net worth estimated at $193 billion.
Why is US debt a problem? ›
A nation saddled with debt will have less to invest in its own future. Rising debt means fewer economic opportunities for Americans. Rising debt reduces business investment and slows economic growth. It also increases expectations of higher rates of inflation and erosion of confidence in the U.S. dollar.
What country has the least debt? ›
The 20 countries with the lowest national debt in 2022 in relation to gross domestic product (GDP)
Characteristic | National debt in relation to GDP |
---|
Macao SAR | 0% |
Brunei Darussalam | 2.06% |
Kuwait | 3.08% |
Hong Kong SAR | 4.27% |
9 more rowsMay 22, 2024
Who is the largest owner of US national debt? ›
The largest holder of U.S. debt is the U.S government. Which agencies own the most Treasury notes, bills, and bonds? Social Security, by a long shot. The U.S. Treasury publishes this information in its monthly Treasury statement.
How much US debt is owned by US citizens? ›
As of December 2023, total federal debt was $33.1 trillion; $26.5 trillion held by the public and $12.1 trillion in intragovernmental debt.
Who owes most of US debt? ›
The public owes 74 percent of the current federal debt. Intragovernmental debt accounts for 26 percent or $5.9 trillion. The public includes foreign investors and foreign governments. These two groups account for 30 percent of the debt.