The U.S. treasury publishes on a monthly basis the totals of marketable and non marketable public debt outstanding. It divides the debt between debt held by the public and debt held intragovernmentally by federal, state and local government agencies.The data is provided by the U.S. bureau of the public debt and examining the data can clear up some of the misconceptions that people commonly hold about the debt. For those that hold the debt it is an asset, not a liability.
Here is the data for December 2009, courtesy of the U.S. treasury.
All data is in millions of U.S. dollars
Marketable debt held by the public. 1. Intra governmental holdings 2.
1. 2.
bills 1,787,913 5567
notes 4,179,412 1696
bonds 714,672 3259
treasury inflation protected
securities 567,851 205
federal financing bank 0 11,921
total 7,249,848 22,465
grand total 7,272,498
marketable
bills 1,799,480
notes 4,181,108
bonds 717,931
treas.inflationprotected
securities 568,055
fed.financing bank 11,921
Total marketable 7,272,496
non marketable total
domestic series 29,995
foreign series 4386
REA series 1
state and local govt.series 214,199
U.S.sav.securities 191,298
govt. acct. series 4,597,132
Hope bonds 492
other 1411
Total non marketable 5,038,853
Total public debt
outstanding 12,311,350
The most important insight to draw from this data is that 40.9 % of the debt is not in the form of marketable debt . 4.5 trillion dollars or 36.6 % is held intragovernmentally by local, state and Federal agencies.Hence, the pressure on financial markets is smaller than what critics allege.
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