America's debt takes on the whole world: how 34.4 trillion are distributed

The U.S. national debt is projected to reach $34.4 trillion by the end of 2024 — a figure that is hard to comprehend. But it's more interesting to look at who is actually financing this debt.

Who Really Funds America?

Home credits hold the lion's share — 26.4 trillion (77%). Here, a different game is being played:

• The American government borrows from itself: 7.0 trillion — this is internal transfers between various government agencies.
• The Federal Reserve System — the same FED — holds $5.2 trillion. In fact, America is borrowing from itself through the central bank.
• Ordinary Americans hold together $6.4 trillion through pension funds, insurers, and investment funds — this is the money of millions of people invested in bonds.

Moral: more than 3/4 of American debt is America borrowing from itself. A classic game of debt.

External creditors: who is cash?

7.9 trillion (23%) — this is real foreign money. And here are the top 3:

• Japan leads with 1.1 trillion — the largest foreign creditor
• China is far behind: only 820 billion ( many guessed more )
• United Kingdom: 680 billion
• Rest of the world: 5.3 trillion

Interestingly, China — despite all the hype about the trade war — still holds over 800 billion in American bonds. Quite a mark for an “enemy.”

What does this affect?

As long as the American debt is predominantly American money, stability has time. But if the structure changes — when foreign partners begin to unwind their positions — it will become more interesting. For now, Washington is safe: internal debt means less dependence on the whims of the global market.