(CNSNews.com) - In data releasedThursday afternoon, the Federal Reserve revealed that its holdings of U.S. government debt had increased to an all-time record of $1,696,691,000,000 as of the close of business on Wednesday.
The Fed's holdings of U.S. government debt have increased by 257 percent since President Barack Obama was first inaugurated on Jan. 20, 2009, and the Fed is currently the single largest holder of U.S. government debt.
As of the end of November, according to the U.S. Treasury, entities in Mainland China owned about $1,170,100,000,000 in U.S. government debt, making China the largest foreign holder of U.S. government debt.
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But Nancy Pelosi says we don't have a spending problem. Will these figures come out in the State of the Union address tonight? Don't hold your breath.
ReplyDeletenumbers don't lie....but its still Bush's fault. My as*
ReplyDeleteWe owe China....send Egypt and Pakistan money out the wazoo and (according to Joe Kennedy's commercial) get oil discounts for our poor people from Hugo Chavez.
ReplyDeleteWTF is wrong with this picture?