Think about the national debt. From what I understand, our government has borrowed money from several other countries? Is this true? To which countries do we owe money?
2007-03-15 17:40:58 · 9 answers · asked by Searcher 7 in Politics & Government ➔ Government
Ok, there is alot of false information out, on who owns the US national debt.
Here are the current numbers as of December 2006:
National Debt 8.6 Trillion
US citizens - 2.6 Trillion
US government - 3.7 Trillion
Foreign - 2.2 Trillion
Japan - 644 Billion
China - 349 Billion
United Kingdom - 239 Billion
OPEC - 100 Billion
Korea - 70 Billion
Caribbean Banks - 68 Billion
Tiawan - 63 Billion
Hong Kong - 53 Billion
Germany - 52 Billion
Brazil - 52 Billion
Canada - 47 Billion
Another interesting point, is just who is buying US Treasury Notes lately.
US Treasuries bought in the last 6 months:
US Government - 167 Billion
US Citizens - 115 Billion
United Kingdom - 83 Billion
OPEC - 32 Billion
China - 15 Billion
Canada - 12 Billion
.
I hope this helps.
.
2007-03-15 18:22:48 · answer #1 · answered by jeeper_peeper321 7 · 1⤊ 0⤋
Okay, here it goes!!! The reason why people say china, we are not borrowing money from china.. China has been buying a lot of U.S government bonds. That's not borrowing money from china, thats just U.S selling securities.. Now to answer your question where does the U.S government borrow money from? Well there is an organization called, IMF which stands for International Monetary Fund. Their job is to loan out money to different counties. You can also go to there web site for more details.
http://www.imf.org/external/work.htm
2007-03-15 21:28:04 · answer #2 · answered by Rain L 5 · 0⤊ 0⤋
Nobody has loaned us money but about 70% of the US is owned by federal reserve bonds purchased by over 80 countries. China holds almost 23%.
2007-03-15 17:47:00 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It is an indirect loan in the form of government bonds that anyone can buy. China, Japan and the Arab countries have bought a lot of US binds. Now we are devalueing the dollar so we can buy them back at a lesser price.
2007-03-15 23:42:52 · answer #4 · answered by emiliosailez 6 · 0⤊ 0⤋
China is one of the largest lenders to the U.S. and we owe them beaucops of money Their economy has really taken off whereas ours has grown stagnant to the point we have run up one of the largest trade deficits with them ever.
Read Thomas Friedman's book "The World is Flat" and you'll get a better understanding on globalization and the economics behind it.
2007-03-15 17:55:15 · answer #5 · answered by JoJo 4 · 0⤊ 0⤋
China has already loaned money to US because of its booming economy while the US is tied with Iraq.
2007-03-15 19:51:25 · answer #6 · answered by FRAGINAL, JTM 7 · 0⤊ 0⤋
This war is on loan from China
2007-03-15 17:49:10 · answer #7 · answered by kberto 3 · 0⤊ 0⤋
China holds the most . Japan I think is second.
2007-03-15 17:47:02 · answer #8 · answered by Anonymous · 0⤊ 0⤋
china
2007-03-15 17:45:10 · answer #9 · answered by Anonymous · 0⤊ 0⤋