The United States’ total public debt outstanding was approximately $13.562 trillion at the end of the government’s fiscal year on 30 September 2010. As of 4 January 2011, the United States’ total public debt outstanding has surpassed 14 trillion dollars and is continuing to grow rapidly.
Despite that near half-trillion dollar increase, the percentage composition of who owns the U.S. national debt shown in the chart above is relatively unchanged. On the whole, U.S. individuals and institutions, when including the Social Security, U.S. Civil Service and Military trust funds own 62.2% of the U.S. national debt, while foreign nations own the remaining 37.8%.
This whole “China is taking over” fiasco has got to stop. The People’s Republic of China is nowhere near even coming closing to holding enough debt to put considerably influence on US policy. Owning 7.5% of our debt does not equate to holding the supreme authority over the United States no matter how much talking bears in YouTube videos might try and tell you so.
Don’t believe the hype. We have much larger things to fear than a Chinese economic takeover of our nation with their 7.5% debt holding.