Who has the most US debt? (2024)

Who has the most US debt?

As of January 2023, the five countries owning the most US debt are Japan ($1.1 trillion), China ($859 billion), the United Kingdom ($668 billion), Belgium ($331 billion), and Luxembourg ($318 billion).

Who is the US most in debt to?

In total, other territories hold about $7.4 trillion in U.S. debt. Japan owns the most at $1.1 trillion, followed by China, with $859 billion, and the United Kingdom at $668 billion. In isolation, this $7.4 trillion amount is a lot, said Scott Morris, a senior fellow at the Center for Global Development.

Who is the largest debt holder in the US?

U.S. Treasury Securities Holders by Type

The largest holder of U.S. debt is the U.S government. Which agencies own the most Treasury notes, bills, and bonds? Social Security, by a long shot. The U.S. Treasury publishes this information in its monthly Treasury statement.

How much of America's debt does China own?

Foreign holders of United States treasury debt

Of the total 7.6 trillion held by foreign countries, Japan and Mainland China held the greatest portions, with China holding 868.9 billion U.S. dollars in U.S. securities.

Who controls most of the U.S. debt?

Including both private and public debt holders, the top three December 2020 national holders of American public debt are Japan ($1.2 trillion or 17.7%), China ($1.1 trillion or 15.2%), and the United Kingdom ($0.4 trillion or 6.2%).

Does any country owe the US money?

China owes the United States $1.3 trillion, which is the most debt out of all the countries that are its debtors. Japan was the primary debt holder until 2008, but now comes in second place, with $1.2 trillion. Other countries with outstanding U.S. debt include Russia, India and South Korea.

Who does US borrow money from?

The federal government borrows money from the public by issuing securities—bills, notes, and bonds—through the Treasury. Treasury securities are attractive to investors because they are: Backed by the full faith and credit of the United States government. Offered in a wide range of maturities.

How will the US pay its debt?

It's the amount of money that the U.S. government has borrowed (plus interest on those borrowings) to cover the outstanding costs it has incurred and which tax revenues aren't enough to pay off. The government borrows money to pay obligations by issuing Treasury bonds, notes, bills, and other marketable securities.

How can the US get out of debt?

Is China in more debt than the US?

Debt as a share of GDP has risen to about the same level as in the United States, while in dollar terms China's total debt ($47.5 trillion) is still markedly below that of the United States (close to $70 trillion). As for non-financial corporate debt, China's 28 percent share is the largest in the world.

What would happen if China called in all US debt?

Consequences of Owing Debt to the Chinese

If China called in all of its U.S. holdings, the U.S. dollar would depreciate, whereas the yuan would appreciate, making Chinese goods more expensive.

Why is the US in so much debt?

Years of elevated budget deficits, exacerbated by massive federal spending during the COVID-19 pandemic, have taken the debt to historic levels: totaling more than $26 trillion in 2023, U.S. federal government debt is now at its highest percentage of gross domestic product (GDP) since World War II.

How much debt is Russia in?

Russia National Government Debt reached 287.8 USD bn in Jan 2024, compared with 285.4 USD bn in the previous month. Russia National Government Debt data is updated monthly, available from May 2009 to Jan 2024. The data reached an all-time high of 384.2 USD bn in Jun 2022 and a record low of 86.1 USD bn in May 2009.

How much is America worth?

The financial position of the United States includes assets of at least $269 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP).

What country has the least debt?

How much more debt can the US handle?

We estimate that the U.S. debt held by the public cannot exceed about 200 percent of GDP even under today's generally favorable market conditions.

What country owes the United States?

With a debt of $290.5 billion, Switzerland ranks as one of the top countries that owe the US money. Investors in Switzerland have also increased their holdings of US debt. The country's other main creditors include countries such as Germany and France.

Does the US owe Britain money?

What countries does the U.S. owe money to in 2021? The United States owes money to many countries, including Japan, mainland China, the U.K., Ireland, Luxembourg, Brazil, Switzerland and Belgium, among others.

What is one real concern about a large national debt?

Rising debt reduces business investment and slows economic growth. It also increases expectations of higher rates of inflation and erosion of confidence in the U.S. dollar. The federal government should not allow budget imbalances to harm the economy and families across the country.

Can the US borrow any more money?

The debt ceiling is the amount that the Treasury can borrow to pay the bills that have become due and pay for future investments. Once the debt ceiling is reached, the federal government cannot increase the amount of outstanding debt, losing the ability to pay bills and fund programs and services.

How much of US debt is owed to Social Security?

Most of the $6.8 trillion of intragovernmental debt is held in government trust funds. About $2.7 trillion is held in the Social Security Old Age and Survivors Insurance (OASI) trust fund in the form of special issue securities that are expected to be redeemed within the next 15 years or so.

How much debt does the average American have?

However, our opinions are our own. See how we rate products and services to help you make smart decisions with your money. The average debt in America is $104,215 across mortgages, auto loans, student loans, and credit cards.

What would happen if the US printed enough money to cover all the debts?

While it is true that the U.S. government has the authority to issue and control its own currency (the U.S. dollar), increasing the money supply without any corresponding increase in the production of goods and services would lead to inflation.

What does the US spend the most money on?

Major expenditure categories are healthcare, Social Security, and defense; income and payroll taxes are the primary revenue sources.

How much would everyone have to pay to pay off national debt?

Right now (Aug 2023), the US national debt is about $32,662,000,000,000. If every American gave $1 to the debt (not to each other as that would accomplish nothing). That would be about $332,000,000, or about 0.001% of the national debt. To pay off the debt, each American would have to contribute nearly $100,000.