Government Debt Clock

Federal Government Debt - Size and Components

With the government debt rapidly increasing questions are being raised about the consequences and sustainabiliy of government debt. Federal government debt in America is to the tune of $14.03 trillion not including the guarantees given to government sponsored entities Freddie Mac and Fannie Mae. Sisty-four percent of the debt is held by the public and the remaining is intra-governmental holdings. Out of 64% held by the public, debt owned by foreign governments, mainly central banks is 44% as of 2006. China, Japan, United Kingdom, and oil exporting countries are major holders of the US debt.

From 2003 to 2008 government debt has increased annually by $500 billion. However, the recent economic crisis required the government to bail out financial institutions. The increased budget deficit led to increase in public debt by $1 trillion in 2008, $1.9 trillion in 2009, and $1.7 trillion in 2010 thus raising the total debt to $14.03 trillion.

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