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U.S. Debt Held by Public Tops $10T for 1st Time—Up 59 Percent Under Obama

Posted By yihan On September 3, 2011 @ 2:12 am In Money Watch | Comments Disabled

Terence P. Jeffrey
CNSNews [1]
Saturday, September 3, 2011

(CNSNews.com) – At the close of business on Aug. 31–for the first time in the history of the country–the publicly held debt of the federal government topped $10 trillion, according to data released by the U.S. Treasury Department at 4:00 p.m. yesterday.

During Obama’s presidency, debt held by the public has now increased by $3.71694 trillion–or almost 59 percent from the $6.3073 trillion in debt held by the public that the government owed to its creditors on Jan. 20, 2009, when Obama was inaugurated.

Also, according to the most recent reports available from the Treasury and the Federal Reserve, approximately $6.1 trillion of that debt—or about 61 percent of it—is owned by foreign interests (led by the Chinese and the Japanese) and by the Federal Reserve.

At the close of business on Aug. 30, as reported by the Treasury Department’s Bureau of the Public Debt, the federal government’s debt held by the public equaled $9,990,126,772,846.86. By the close of business on Aug. 31, it was $10,024,253,354,407.07.

Full story here. [1]

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URL to article: http://www.prisonplanet.com/u-s-debt-held-by-public-tops-10t-for-1st-time%e2%80%94up-59-percent-under-obama.html

URLs in this post:

[1] CNSNews: http://www.cnsnews.com/news/article/us-debt-held-public-tops-10t-1st-time-mo

[2] It’s Official: Federal Debt Tops $16 Trillion: http://www.prisonplanet.com/its-official-federal-debt-tops-16-trillion.html

[3] CBO: Obama’s Policies to Increase National Debt 47 Percent to $21.7 Trillion by 2022: http://www.prisonplanet.com/cbo-obama%e2%80%99s-policies-to-increase-national-debt-47-percent-to-21-7-trillion-by-2022.html

[4] US public debt tops $12 trillion for first time ever: http://www.prisonplanet.com/us-public-debt-tops-12-trillion-for-first-time-ever.html

[5] Fed Now Largest Owner of U.S. Gov’t Debt—Surpassing China: http://www.prisonplanet.com/fed-now-largest-owner-of-u-s-gov%e2%80%99t-debt%e2%80%94surpassing-china.html

[6] America’s Under Water: Debt Equals 103 Percent of GDP: http://www.prisonplanet.com/americas-under-water-debt-equals-103-percent-of-gdp.html

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