The US National Debt is valued at 28.58 trillion US$ and is still growing. It grows because the expenses of the US governmet are larger than the income. In a post on July 10, 2021, I showed the potential risks of having a large debt.

Who owns the debt? the debt is divided in 2 large groups. There is the Intragovernmental Debt. This is the debt that the US government owes to other federal agencies. 22% of the US National Debt is made by this ytype of debt. Of all the agencies, the government owes money to, the Social Security Fund is the largest. It also owes the Office of Personnel Management Retirement, the Military Retirement Fund, Medicare, etc.

The second group is the Public Debt. This is 78% of all the debt. About 1/3 of thus debt is owed to foreign countries and about 1/2 of it to the Federal Reserve and local governments. the countries that the US government owes more are Japan and China, more than 1 trillion US$ to each of them.

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.