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It has been a misconception that China is the largest holder of U.S. debt. According to the U.S. Treasury Department that’s not true. The biggest holders of US debt are American individuals, institutions, and Social Security that account for almost 67%. China only holds 7.5%.
At the end of the fiscal year (Sept. 2010) the U.S. debt was $13.562 trillion. And to date it has exceeded $14 trillion.
Below is a chart showing the distribution of U.S. debt holdings.
Sources:
U.S. Treasury Department:
Monthly Statement of the Public Debt of the United States
Major Foreign Holders of Treasury Securities.
Graph shows Billions not Trillions in center circle.
$13,562 (thousand) billion = $13.562 trillion.
it is not japan is the actual taxpayer
The biggest debt is all those U S Savings bonds sold over the years. No one ever thinks about that, do we? Lots of companies used to take out money from employees checks and issue these savings bonds. I recall we paid $25 for a $50 bond and after a short time you could actually cash it for $37.50 but if you waited until it was mature, it was like doubling your money. It would appear lots of those bonds are still out there and the majority of this debt is indeed owed to Americans. Why we have allowed our country to take on foreign aid and all these other unnecessary entities,is beyond any true common sense reason or comprehension.