Debasing Ourselves

By Sam Smith

Percentage of total U.S. debt, according to Business Insider:

•    Hong Kong: $121.9 billion (0.9 percent)
•    Caribbean banking centers: $148.3 (1 percent)
•    Taiwan: $153.4 billion (1.1 percent)
•    Brazil: $211.4 billion (1.5 percent)
•    Oil exporting countries: $229.8 billion (1.6 percent)
•    Mutual funds: $300.5 billion (2 percent)
•    Commercial banks: $301.8 billion (2.1 percent)
•    State, local and federal retirement funds: $320.9 billion (2.2 percent)
•    Money market mutual funds: $337.7 billion (2.4 percent)
•    United Kingdom: $346.5 billion (2.4 percent)
•    Private pension funds: $504.7 billion (3.5 percent)
•    State and local governments: $506.1 billion (3.5 percent)
•    Japan: $912.4 billion (6.4 percent)
•    U.S. households: $959.4 billion (6.6 percent)
•    China: $1.16 trillion (8 percent)
•    The U.S. Treasury: $1.63 trillion (11.3 percent)
•    Social Security trust fund: $2.67 trillion (19 percent)

So America owes foreigners about $4.5 trillion in debt. But America owes America $9.8 trillion.

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