Obama Facing Debt Payments, $1.6 TRILLION Due By March

Obama officials now faces a mountain of new debt, a balloon of short-term borrowings that come due in the months ahead. With the national debt now topping $12 trillion, the White House estimates that the government’s tab for servicing the debt will exceed $700 billion a year in 2019, up from $202 billion this year. An additional $500 billion a year in interest expense would total more than the combined federal budgets this year for education, energy, homeland security and the wars in Iraq and Afghanistan.

The surge in borrowing is due to the financial crisis and the deep recession, and high deficits. The problem, many analysts say, is that record government deficits have arrived just as the long-feared explosion begins in spending on benefits under Medicare and Social Security. Baby Boomers are approaching 65, setting off what experts have warned for years will be a fiscal nightmare for the government.

MAJOR FOREIGN HOLDERS OF TREASURY SECURITIES (billions of dollars)
HOLDINGS 1/ AT END OF PERIOD 
                       Sep     Aug     Jul     Jun
Country               2009    2009    2009    2009
China, Mainland       798.9   797.1   800.5   776.4
Japan                 751.5   731.2   724.5   711.8
United Kingdom 2/     249.3   226.9   219.9   214.0
Oil Exporters 3/      185.3   189.1   189.2   191.2
Carib Bnkng Ctrs 4/   171.7   179.9   193.2   189.7
Brazil                144.9   137.3   138.1   139.8
Hong Kong             132.2   124.7   115.3    99.8
Russia                121.8   121.6   118.0   119.9
Luxembourg             98.7    94.2    92.0   104.1
Taiwan                 78.1    75.9    77.4    77.0
Switzerland            68.9    68.2    68.1    71.5
Germany                53.7    55.0    56.1    53.8
Korea                  38.8    38.7    37.6    36.3
Singapore              38.3    42.0    42.3    40.8
Canada                 38.3    26.2    20.2    19.0
India                  35.9    38.5    38.9    39.3
Ireland                32.7    36.5    38.6    46.3
France                 32.1    35.0    24.6    26.0
Thailand               30.1    33.5    31.4    29.7
Turkey                 28.2    28.7    27.3    27.5
Norway                 25.2    24.7    28.9    28.7
Mexico                 22.1    27.5    27.7    29.5
Netherlands            21.3    21.3    21.5    18.9
Egypt                  20.8    20.4    18.6    17.3
Sweden                 18.3    16.7    16.5    16.5
Israel                 18.3    17.7    16.9    18.1
Italy                  17.6    16.9    17.3    16.7
Colombia               16.7    16.3    14.8    11.8
Belgium                15.0    15.6    15.7    15.7
Chile                  12.9    13.0    13.5    14.3
Philippines            11.8    12.4    11.4    11.6
Malaysia               11.0    11.2    11.9    11.7
All Other             156.8   158.7   159.5   157.5
Grand Total          3497.3  3452.9  3427.4  3382.1
For. Official       2369.5  2360.1  2346.2  2295.7
Treasury Bills      597.7   607.3   606.6   571.9
T-Bonds & Notes     1771.8  1752.8  1739.6  1723.8
 1/  Estimated foreign holdings of U.S. Treasury marketable and non
marketable bills, bonds, and notes reported under the Treasury 
International Capital (TIC) reporting system are based on annual Surveys
of Foreign Holdings of U.S. Securities and on monthly data.  
2/  United Kingdom includes Channel Islands and Isle of Man. 

3/  Oil exporters include Ecuador, Venezuela, Indonesia, Bahrain, Iran, 
Iraq, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, 
Algeria, Gabon, Libya, and Nigeria.  
4/  Caribbean Banking Centers include Bahamas, Bermuda, Cayman Islands, 
Netherlands Antilles and Panama. Beginning with new series for June 
2006, also includes British Virgin Islands.

Click On Links:
Millions To Repay Part Of Obama Tax Credit
Obama’s Approval Rating
Dollar Losing Value Under Obama
Obama Bank Overhaul
Obama’s 9 Trillion Dollar Deficit
Obama GM Bankruptcy
Obama Says ‘WE’RE OUT OF MONEY’
Obama $3.6 Trillion Budget Proposal
Where’s The Money !
U.S. Dollar Dropping Under Obama
Obama Promises One Year Later

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  1. November 25th, 2009

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