Foreign interests now own more than $6 trillion in U.S. government debt for the first time in the country's history, CBS reported on Tuesday.
The information was unveiled in the most recent Treasury Department report on major foreign holders of the debt, which includes figures through the end of June.
Foreign owners held over $6 trillion in U.S Treasury securities, up from $5.9 trillion as of the end of May. The foreign-held U.S. government debt was $983 billion in June 2001. Since then, it has grown more than six-fold.
Of the $6 trillion in debt held by foreign interests, roughly $4 trillion was categorized as "foreign official" debt holdings by the treasury. This means it was owned by entities controlled by foreign governments.
The largest share of foreign-owned U.S. government debt is held by entities in China, which own $1.26 trillion in U.S. Treasury securities as of the end of June. The second largest share is held by interests in Japan, which own $1.21 trillion.
The Treasury says that:
"Foreign official institutions include the following: 1. Treasuries, including ministries of finance, or corresponding departments of national governments; central banks, including all departments thereof; stabilization funds, including official exchange control offices or other government exchange authorities; and diplomatic and consular establishments and other departments and agencies of national governments. 2. International and regional organizations. 3. Banks, corporations, or other agencies (including development banks and other institutions that are majority-owned by central governments) that are fiscal agents of national governments and perform activities similar to those of a treasury, central bank, stabilization fund, or exchange control authority."
The total U.S. government debt at the end of June was $17 trillion. This included the $12 trillion in debt held by the public, plus $5 trillion in what the Treasury calls "intragovernmental debt." This includes money the government has borrowed from things like the Social Security trust fund to cover other government expenses.