China, Treasury Department | featured news

The United States has not seen a balanced budget since 2001. Although private banks in the U.S. hold the majority of the country’s debt, over 52% according to MSNBC, the Treasury Department and the Federal Reserve Board estimate that foreign governments hold 4.4 trillion of the country’s $14 trillion debt in Treasury securities.

China boosted its holdings of U.S. Treasurys to its largest position in nearly a year during October as it remained the largest foreign holder of U.S. government debt, the Treasury Department said.