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Fact #7: As of summer 2012, the federal government’s outstanding debt
surpassed $15 trillion. Who are the nation’s creditors?
The government owes the most money to — itself. The Federal Reserve and various US agencies own 41 percent of the federal debt, more than $2 of every $5. Nearly one-third of the national debt is owed to other countries. China is the biggest foreign creditor ($1.144 trillion), followed by Japan ($1.076 trillion), but together they own less than 15 percent of it. Mexico and Canada together are owed $90 billion.
This series is brought to you courtesy of Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!). This paragraph must be included in any article re-posting to avoid copyright infringement.
This is the 7th in a series* of 100 facts about big issues facing Americanvoters which are being presented by www.FaceTheFactsUSA.org every day until the election to help Americans debunk myths, hold better conversations, get involved, and make choices as smarter citizens.
Fact#7* Released: Aug. 5, 2012 Debts & Deficits
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9. Ayurveda: The Cure for the Virus that Plagues Our Financial System
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10. Major Price Inflation Is Coming – It’s Just a Matter of Time! Here’s Why
The developed economies of the world have opened the money spigots…[and this] massive money and credit creation is sitting in the banking system like dry tinder just waiting for a spark to set it ablaze. How quickly it happens is anyone’s guess, but once it does we are likely to be enveloped in a worldwide inflation unlike anything before ever witnessed. [Let me explain further.] Words: 625
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12. Will This Be The USA in 2012?
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