US gross external debt more than $6 trillion - Treasury Dept

[cthrumatrix]

Reuters
US gross external debt more than $6 trillion-Trsy
Wednesday October 8, 7:40 pm ET


WASHINGTON, Oct 8 (Reuters) - U.S. debt owed to foreign governments, central banks, private banks and other investors topped $6 trillion in the quarter ended June 30, the Treasury Department said on Wednesday.

Of that, about $1.270 trillion in principal and another $53.73 billion in interest is due within the next 3 months, according to a new report on the U.S. external debt position issued by Treasury.

"The overall magnitude of U.S. indebtedness to foreigners and some of the major components are already well known. This presentation provides more detail," Treasury said in announcing it was publishing quarterly data on external debt, broken down by type of creditor, how the debt is denominated and the expected payment schedule.

The report shows the extent to which the United States remains dependent on foreign investment. Even for an economy totaling $10.803 trillion annually, the $6.357 trillion in external debt is a hefty 58.8 percent of gross domestic product.

snip
http://biz.yahoo.com/rf/031008/economy_treasury_debt_1.html

[reprobate]

1. And the switch to petro- euros will certainly help, right?

[ReadTomPaine]

2. Geez. Thats a lot of those new 20 dollar bills.

[papau]

3. Why is this news

TABLE I -- SUMMARY OF TREASURY SECURITIES OUTSTANDING,
SEPTEMBER 30, 2003
(Millions of dollars)


Title Amount Outstanding Totals
Debt Held by
the Public Intragovernmental
Holdings
Marketable:
Bills 918,196 31 918,227
Notes 1,799,424 47 1,799,471
Bonds 576,590 310 576,900
Inflation-Indexed Notes 120,035 0 120,035
Inflation-Indexed Bonds 46,085 0 46,085
Total Marketable 3,460,330 388 3,460,718

Nonmarketable:
Depositary Compensation Securities 14,991 0 14,991
Domestic Series 29,995 0 29,995
Foreign Series 11,007 0 11,007
R.E.A. Series 1 0 1
State and Local Government Series 148,366 0 148,366
United States Savings Securities 201,561 0 201,561
Government Account Series 53,463 2,858,753 2,912,216
Other 4,376 0 4,376
Total Nonmarketable 463,760 2,858,753 3,322,513

Total Public Debt Outstanding 3,924,090 2,859,141 6,783,231


TABLE II -- STATUTORY DEBT LIMIT,
SEPTEMBER 30, 2003
(Millions of dollars)


Title Amount Outstanding Totals
Debt Held by
the Public Intragovernmental
Holdings
Debt Subject to Limit:
Public Debt Outstanding 3,924,090 2,859,141 6,783,231
Less Amounts Not Subject to Limit:
Other Debt Not Subject to Limit 516 0 516
Unamortized Discount 33,016 12,411 45,427
Total Public Debt Subject to Limit 3,890,558 2,846,730 6,737,288

Other Debt Subject to Limit:
Guaranteed Debt of Government Agencies 265 0 265

Total Debt Subject to Limit: 3,890,823 2,846,730 6,737,553
Statutory Debt Limit 7,384,000
Balance of Statutory Debt Limit 646,447

[ConcernedCanuk]

4. National Debt has continued to increase an average of$1.57 billion per day

"The Outstanding Public Debt as of 10 Oct 2003 at 06:07:24 PM GMT is:



"The estimated population of the United States is 292,225,499
so each citizen's share of this debt is $23,335.35."

The National Debt has continued to increase an average of
$1.57 billion per day since September 30, 2002!

<snip>

Lots more info and links at link (above graphic)

[rocktivity]

5. $6,000,000,000,000.00 in debt

Yeah, that's gross, all right.


rocknation

[haymaker]

6. When they are referring to external debt,

that doesn't include internal debt, which is money taken from sources like Social Security and Medicare? Si or no? I would like to get a handle on this.

[TrogL]

7. If this is "external" debt, does the falling greenback come into play?

If this has to be paid back in, say Euros, life could get very strange indeed.

[twilight]

8. and the DOW continues to rise ....

:wtf:

Just wait until the big bubble goes *pop*. This cannot last a hell of a lot longer!

:nuke:

[indepat]

9. What was it the late Senator Dirksen said? Was it essentially a trillion

dollars here, a trillion dollars there, pretty soon you are talking real money? What's really sad is all Republican presidents since Reagan have knowingly and intentionallya greatly damaged the fiscal integrity of the Federal government, its willingness and ability to meet present and future obligations, solely for the purpose of much further enriching large Croporations and wealthy individuals, almost all patrons. Moreover, tens of millions the supporters of those presidents who have been/are being/will be greviously harmed by such fiscal irresponsility just don't get it.