7. Bonus points for getting the dom/for split but no cigar on China
To give pending guessers an advantage, about 40% of the debt is owned by our own government. Yep - at least $4T is the government in debt to itself. Investors want safe returns - traditionally T-bills. These investors include Social Security etc fund managers.
Less than a third of the debt is owned by foreign entities of any kind.
Until a couple of years ago Japan was indeed the biggest foreign debt owner but it was still in the $700B range. It's #2 now with the UK just behind in 3rd.
The biggest owner of US debt at a chunk over $4T is the US government (socsec and so on), but outside that it's institutional investors in the US like pension schemes, insurers and so on.
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