Did you know that 20% of our GDP is now owed to foreign governments and investors? We now owe – are you ready for this – $2.67 trillion to foreign governments and investors. In 2001, we owed China $61.5 billion and today we owe $541 billion. Russia has also increased from $10 billion to $74.4 billion in just 8 short years. These debts are sold in the form of US securities and all the interest has to be paid. So a big chunk of our wealth will still be going overseas in the years to come. Some of the other debts we owe are: Japan – $585 billion, UK – $307 billion, OPEC nations – $179 billion, Caribbean – $147 billion.
Source: US Department of the Treasury
Filed under: Taxes
