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Thread: US government's foreign debt hits record $5.29 trillion

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    US government's foreign debt hits record $5.29 trillion


    The U.S.’ indebtedness to foreign interests has grown by 72.3 percent during President Barack Obama’s term in office.

    The money the U.S. government owes to foreign entities rose to a record $5.2923 trillion in June, according to data released by the U.S. Treasury.

    In May, the U.S. Treasury had owed $5.2581 trillion to foreign entities. On net, in June, the U.S. government borrowed an additional $34.2 billion from foreign entities in order to fund U.S. government operations.

    The U.S. government’s indebtedness to foreign interests has grown by 72.3 percent during President Barack Obama’s term in office. In January 2009, when Obama was inaugurated, the U.S. government owed $3.0717 trillion to foreign entities, according to the Treasury Department. That has increased by $2.2206 trillion—or 72.3 percent—to the record $5.2923 trillion.

    Entities in the People’s Republic of China remain the largest holders of U.S. government debt. Entities in Japan, however, are on track to eclipse the Chinese as the top holders of U.S. government debt. cnsnews.com

    FACTS & FIGURES
    In June, the Chinese held $1.1643 trillion in U.S. government debt, up slightly from the $1.1640 trillion in U.S. government debt the Chinese held in May. However, Chinese ownership of U.S. government debt hit an historical peaked of $1.3149 trillion in July 2011 and has been on a generally downward trend since then. cnsnews.com

    Entities in Japan, by contrast, have been consistently increasing their ownership of U.S. government debt. In June, the Japanese owned $1.1193 trillion in U.S. debt. In May, they owned $1.1089 trillion in U.S. debt. A year ago, in June 2011, the Japanese owned only $881.5 in U.S. government debt. cnsnews.com

    The list of nation that have helped out the U.S. doesn’t end there though: Brazil, Taiwan, Russia and the UK are also towards the top of the roster, which goes on to cite a substantial sum of money borrowed from the countries of India, Italy, South Africa and Peru, among others. RT

    Should the United States’ debt to foreign holders continue at the current rate, America could expect to owe its allies over $9 trillion in just another few years.

    When Barack Obama took office in January 2009, total U.S. government debt stood at about $10 trillion. Since then, more than $5.5 trillion has been added to the national debt, which is about to hit $16 trillion. ocregister.com
    http://www.presstv.com/usdetail/256938.html

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    The Irony: I continue to receive daily e-mail from the Obama reelection campaign asking me for money. I receive almost daily e-mail from the Romney election campaign never asking me for money, just my vote.


  3. #3
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    i find it amazing that this thread has this amount of posts in it. these are the types of issues that should be on the forefront of the election. instead we get the total opposite.....

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    Jets Insider VIP
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    Quote Originally Posted by neevsmazda07 View Post
    i find it amazing that this thread has this amount of posts in it. these are the types of issues that should be on the forefront of the election. instead we get the total opposite.....
    Why? Because through direct entitlement or employment..... Most Americans live off government. most Americans who live off government do not see themselves as the problem. They are entitled. from Welfare to federal workers under public unions and those not in unions.

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    Quote Originally Posted by southparkcpa View Post
    Why? Because through direct entitlement or employment..... Most Americans live off government. most Americans who live off government do not see themselves as the problem. They are entitled. from Welfare to federal workers under public unions and those not in unions.
    its sad but true...

  6. #6
    Quote Originally Posted by southparkcpa View Post
    Why? Because through direct entitlement or employment..... Most Americans live off government. most Americans who live off government do not see themselves as the problem. They are entitled. from Welfare to federal workers under public unions and those not in unions.
    What about the corporations that get bailed out by the taxpayers? They get wayyyyy more than the people who collect checks from the gov't. Isn't that a problem also?

  7. #7
    Quote Originally Posted by neevsmazda07 View Post
    i find it amazing that this thread has this amount of posts in it. these are the types of issues that should be on the forefront of the election. instead we get the total opposite.....
    Well Romney's tax returns are more important, don't you see that already?

    Just think, if China and/or Japan placed that debt on the market in the morning, it would be a major upheaval over here.

    The amount that the debt has risen in such a short period of time is astonishing to say the least. Furthermore, it started in '09 at an extremely high level. Everyone should be on the phones and emails to congress.

    Oh yeah, they are vacationing again....

  8. #8
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    Quote Originally Posted by Jetdawgg View Post
    What about the corporations that get bailed out by the taxpayers? They get wayyyyy more than the people who collect checks from the gov't. Isn't that a problem also?
    No question......

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