- Published: September 18, 2022
- Updated: September 18, 2022
- University / College: Durham University
- Level: Intermediate School
- Language: English
- Downloads: 34
U. S National Debt
According to the article, Treasury Direct 2012 the size of the U. S National debt as per August 31st 2012 stands at $16, 394, 000. Debt held by the public amount to 11, 272, 626, and the Intergovernmental holdings amounts to 4, 743, 144, which totals to 16, 015, 770. The Total Public Debt subject to limit soared to 15, 976, 711 while the Statutory Debt Limit amounted to 16, 394, 000.
The debt is rising at a high rate since the amount seems to increase gradually every month. In July 2012, the total Public Outstanding Debt amounted to 15, 933, 235, which increased to 16, 015, 770 in August. Still, the Total Public Debt subject to limit totalled to 15, 894, 576 and Statutory Debt Limit was recorded as 16, 394, 000. The amount slightly increased to 15, 976, 711 of the Total Public Debt Subject to Limit and the statutory Debt Limit increased to 16, 394, 000.
As of January 2011, the much of the debt owned by foreigners is 10, 300, 000. The foreign country that owns the most U. S Treasury Securities is China with $1. 16 trillion with Japan coming in second with $882 trillion lending. Following this analysis, the debt position of the country and its activities’ report create a concern of dealing with economic recession. This is something that the country should be concerned about since if not handled it would result to economic crisis. With this in mind, it would be substantial if the country creates new ways of paying its debts and increasing its national income. This would lead to economic growth that creates job opportunities and better spending.
References
U. S Department of the Treasury. (September 14, 2012). Treasury Direct. Retrieved from
http://www. treasurydirect. gov/
U. S Department of the Treasury. (September 6, 2012). Treasury Direct. Retrieved from http://www. treasurydirect. gov/govt/reports/pd/pd_debtposactrpt. htm
