Foreign Financing of US Government Debt

It is bad enough to be over 17 trillion dollars in the red, but it is even worse to owe much of that debt to your economic competitors. Which, as you can see from the graphics below, is exactly the situation the United States faces today. America's top two foreign financiers - China and Japan - have the world's third and second largest economies, respectively, just behind the U.S. Out-of-control government spending combined with lawmakers' fetish for tax breaks have allowed the national debt to spiral out of control.

This data comes from the U.S. Department of Treasury's report on Major Foreign Holders of Treasury Securities and their decade-long historical report. Figures are in billions of dollars.