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By Catholic Online (NEWS CONSORTIUM)

6/12/2012 (3 years ago)

Catholic Online (www.catholic.org)

Marked increase from January 2009 of $1.366 trillion

When President Barack Obama took the reins in January of 2009, the Federal Reserve's holdings of U.S. government debt have quintupled. According to the Fed's official monthly balance sheet, that's an increase from January 2009 of $1.366 trillion-or 452 percent.

Altogether, the Federal Reserve, China and Japan had increased their holdings of U.S. debt by $2.2445 trillion since Obama took office.

Altogether, the Federal Reserve, China and Japan had increased their holdings of U.S. debt by $2.2445 trillion since Obama took office.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

6/12/2012 (3 years ago)

Published in Business & Economics

Keywords: Debt, President Obama, Federal reserve, China, Japan


LOS ANGELES, CA (Catholic Online) - On January 28, 2009, the week following Obama's nomination, the Fed owned $302 billion in U.S. Treasury securities. On April 25, 2012, the latest date reported, the Fed owned five and a half time that much in U.S. Treasury securities, or $1.668 trillion.

Under the current administration, the Federal Reserve has become the single largest owner of U.S. government debt. When Obama took office, entities in the People's Republic of China were the largest holders. At the end of January 2009, China owned $739.6 billion in U.S. government debt and Japan owned $634.8 billion.

By the end of March of this year, China's holdings of U.S. debt had grown to $1.1699 trillion and Japan's holdings had grown to $1.083 trillion.

Altogether, the Federal Reserve, China and Japan had increased their holdings of U.S. debt by $2.2445 trillion since Obama took office.

The total U.S. government debt grew from $10.6179 trillion to $15.6233 between Jan. 28, 2009 and April 25, 2012. Making an exception for the intra-governmental debt-which the federal government owes itself-the publicly owned part of the U.S. government debt has climbed from $6.2955 trillion to $10.8607 trillion, an increase of $4.5652 trillion.

The $2.2445 trillion of that new publicly owned U.S. government debt that was purchased by the Fed, China and Japan equals 49 percent of all the new debt the U.S. government has sold to the public since Obama took office.

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