Feb. 28 at 5:02 p.m.
Filed under:
China,
Economy,
International,
Updated
By Reuters
The United States owes considerably more money to China than previously reported, the Treasury Department said on Monday as it revised Beijing’s holdings of U.S. Treasury debt sharply upward to $1.160 trillion.
The $268.4 billion increase over figures reported on February 15 was contained in a survey of foreign portfolio holdings of U.S. securities released on Monday. The report attributed Treasuries holdings to China that were previously counted in other countries where broker-dealers made purchases.
The United Kingdom has typically been a country where brokers have purchased Treasuries for central banks and investors elsewhere, including China. Get the full story »
Feb. 2 at 1:00 p.m.
Filed under:
Economy,
Government
By Reuters
The United States will hit a $14.3 trillion statutory limit on its debt slightly later than estimated, the Treasury said Wednesday as it unveiled a still-hefty debt auction schedule.
Treasury officials said the limit would now be hit between April 5 and May 31, versus a previous estimate of end-March to mid-May. The later time frame reflected an upward revision to estimates of tax receipts and a downward revision to projected borrowing from the Social Security and Medicare trust funds. Get the full story »
Dec. 14, 2010 at 5:18 p.m.
Filed under:
Economy,
Government
By Reuters
Interest payments on the U.S. debt could balloon to $800 billion a year, or 3.4 percent of the economy, by 2020 under current spending and tax laws, a congressional budget analysis released Tuesday said.
The report by the non-partisan Congressional Budget Office said that U.S. debt held by investors, which stands at $9.3 trillion, will exceed $16 trillion by the end of the decade under current law. Rising interest rates means federal spending to service the debt will increase to at least $800 billion by the end of the decade from $197 billion, about 1.4 percent of gross domestic product, in 2010. Get the full story »
