Questions on US' External, Intragovernmental, Internal, and Total Debt
According to: , the US has a external debt/GDP is 99.95% of GDP. Ireland's figureis 961%!
Rank $B"-(B Country - Entity $B"-(B External Debt
(million US$) $B"-(B Date of information $B"-(B External Debt
Per Capita (US$) $B"-(B Date of population* $B"-(B External debt (% of
World $54,610,000 2008 $9,100 2008 est. 69.68%
1 United States $13,703,567 6/30/2008 $42,343 31-March-08
2 United Kingdom $10,450,000 6/30/2007 $174,167 July 2008
6 Ireland $1,841,000 6/30/2007 $448,032 30-Jun-08 960.86%
Also, from ,the Total Debt of the USA is $12.3T.United States Total Debt (Split)End of fiscal year Intragovernmental Holdings Debt Held by thePublic
2009* est 5.900 trillion 6.400
The entire GDP of the USA is about $15T. This implies that the total
debt/GDP of the USA is 82%. Of this total debt, we can see that 48%
is in Intragovernmental Holdings and 52% is Debt Held By the Public
(i.e. 0.52 = 6.4/12.3).
Further down from this same article, it states that "As is apparent
from the chart, a little more than half of the total national debt is
owed to the "Federal Reserve and intragovernmental holdings". The
foreign and international holders of the debt are also put together
from the notes, bills, and bonds sections."
Q1: HOWEVER, I JUST CALCULATED THAT A LITTLE *LESS* THAN HALF OF THE
TOTAL NATIONAL DEBT IS OWED TO THE FRB AND INTRAGOVERNMENTAL
HOLDINGS. DOES THIS ARTICLE CONTRADICT ITSELF?
Q2: FROM THE FIRST ARTICLE AT THE TOP, IT STATES THAT THE US'
EXTERNAL DEBT IS 99.95% OF GDP. DOES THIS CONTRADICT FROM THE SECOND
ARTICLE WHICH STATES THAT ONLY $6.4T OF THE DEBT IS EXTERNAL?
Q3: HOW CAN IRELAND HAVE A DEBT OF ~1000% OF GDP? THIS IMPLIES TO
ME THAT THE COUNTRY WILL GO BANKRUPT VERY SOON! WHAT KIND OF EFFECTS
IS THIS HAVING THERE?
Q4: According to the first hyperlink that I have provided: Only $3T
of our External/Foreign Owned Debt/Non-Governmental Debt (titled as
"Foreign owners of US Treasury Securities (January 2009)") is owned by
foreigners. Keep in mind that the "Total Debt Held By Public" is
$6.4T. Why is there a discrepancy here? I thought that they were the
Q5: Who owns the other $3.4T of this (i.e. the "Foreign owners of US
Treasury Securities (January 2009)" which is $6.4T - $3T which is
owned by foreigners = $3.4T)? Is this a discrepancy?
According to: (I re-formatted the data):Current 06/18/2009Debt Held by the Public 7,127,626,496,714.92Intragovernmental Holdings 4,271,632,300,051.18Total Public Debt Outstanding 11,399,258,796,766.10
Q6: From above, we saw that the intragovernmental holding was "a
little more than half [50%]", and according to my calculations, it's
more like 48%. However, from these figures, it appears that the
figure is more like 37.5%. WHY ALL THE DISCREPANCIES?
Q7: AM I CONFUSING DEBT HELD BY THE PUBLIC ($7.127T) WITH "Foreign
owners of US Treasury Securities" (which is $3T)?
As a side, the terms "Debt Held by the Public" is very confusing with
"Total Public Debt Outstanding". Finally, I think that "Debt Held by
the Public" is how much we owe FOREIGN COUNTRIES to finance our wars,
roads, etc. However, "Intragovernmental Holdings" is how much we owe
TO OURSELVES to finance Social Security and Medicare/Medicaid, among
- posted 10 years ago