As Americans continue to suffer from a slowed economy and the national debt, currently at more than $9 trillion and growing, is debated on TV and on the campaign trail, there is little talk of exactly where that debt sits.
We all hear stories about China buying America one company at a time, but really how much of our debt is being serviced by the Chinese?
One economist/blogger says not as much as as you might think. In fact, most of America’s debt is being financed by the federal government itself through loans from existing programs. Of all the foreign countries, Japan and not China, leads the world in purchasing American debt.
And did you know the Brits are buying our debt as well?
Below is a graph from Steve Conover’s blog the Skeptical Optimist.
Conover, a retired ex-Fortune 50 executive, blogs primarily on the country’s working budget, including the nation’s growing deficit.
