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<blockquote data-quote="The Patriarchy" data-source="post: 61603" data-attributes="member: 162">I was going to say the fed+ china but decided to ask grok for clarityThe United States national debt (total public debt outstanding) exceeds $38 trillion as of late 2025. It divides into two main categories:<ul>
<li data-xf-list-type="ul">Intragovernmental holdings — ~$7–7.5 trillion (about 20%). This is debt the federal government owes to its own programs, primarily Social Security Trust Funds, Medicare, federal employee retirement funds, and other trust funds. It&#039;s essentially money one part of the government owes another, representing surpluses invested in Treasury securities.</li>
<li data-xf-list-type="ul">Debt held by the public — ~$29–30 trillion (about 80%). This is debt owed to external investors via marketable Treasury securities (bills, notes, bonds, etc.).</li>
</ul>Within debt held by the public, ownership breaks down as follows:<ul>
<li data-xf-list-type="ul">Domestic holders (majority): Includes the Federal Reserve (largest single holder, ~$4.7 trillion), mutual funds, pension funds, banks, state/local governments, individuals, and other U.S. entities.</li>
<li data-xf-list-type="ul">Foreign holders (~30% of public debt, or ~$8.5–9.1 trillion total): Primarily foreign governments and investors. The largest are:<ul>
<li data-xf-list-type="ul">Japan: ~$1.1–1.2 trillion (top holder).</li>
<li data-xf-list-type="ul">China (Mainland): ~$0.75–0.86 trillion.</li>
<li data-xf-list-type="ul">United Kingdom: ~$0.7–0.9 trillion.</li>
<li data-xf-list-type="ul">Others: Luxembourg, Cayman Islands, Canada, and more.</li>
</ul></li>
</ul>Foreign holdings have grown in absolute terms but declined as a share of total public debt in recent years, as U.S. deficits have been financed more by domestic sources.In summary, the U.S. is mostly indebted to itself (via intragovernmental holdings and domestic investors like the Fed), with the remainder owed to foreign investors and a smaller portion to U.S. private entities. This structure reflects Treasury securities&#039; role as a safe, global asset.</blockquote>

[QUOTE="The Patriarchy, post: 61603, member: 162"] I was going to say the fed+ china but decided to ask grok for clarity The [B]United States national debt[/B] (total public debt outstanding) exceeds [B]$38 trillion[/B] as of late 2025. It divides into two main categories: [LIST] [*][B]Intragovernmental holdings[/B] — ~$7–7.5 trillion (about 20%). This is debt the federal government owes to its own programs, primarily [B]Social Security Trust Funds[/B], Medicare, federal employee retirement funds, and other trust funds. It's essentially money one part of the government owes another, representing surpluses invested in Treasury securities. [*][B]Debt held by the public[/B] — ~$29–30 trillion (about 80%). This is debt owed to external investors via marketable Treasury securities (bills, notes, bonds, etc.). [/LIST] Within debt held by the public, ownership breaks down as follows: [LIST] [*][B]Domestic holders[/B] (majority): Includes the [B]Federal Reserve[/B] (largest single holder, ~$4.7 trillion), mutual funds, pension funds, banks, state/local governments, individuals, and other U.S. entities. [*][B]Foreign holders[/B] (~30% of public debt, or ~$8.5–9.1 trillion total): Primarily foreign governments and investors. The largest are: [LIST] [*]Japan: ~$1.1–1.2 trillion (top holder). [*]China (Mainland): ~$0.75–0.86 trillion. [*]United Kingdom: ~$0.7–0.9 trillion. [*]Others: Luxembourg, Cayman Islands, Canada, and more. [/LIST] [/LIST] Foreign holdings have grown in absolute terms but declined as a share of total public debt in recent years, as U.S. deficits have been financed more by domestic sources. In summary, the U.S. is mostly indebted to itself (via intragovernmental holdings and domestic investors like the Fed), with the remainder owed to foreign investors and a smaller portion to U.S. private entities. This structure reflects Treasury securities' role as a safe, global asset. [/QUOTE]

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