Debt Composition: Foreign Investors & Governments

Debt Composition: Foreign Investors & Governments Hold ~46% of USA Inc. Public Debt 1989 Total Public Debt 2010 Total Public Debt Outstanding Outstanding $2 Trillion $9 Trillion u Foreign Investors & Government = Federal Reserve = Mutual Funds a State & Local Governments = Private Pension Funds a Depository Institutions = Insurance Companies a Other Investors Note: Public debt ownership excludes Government Accounts Series (such as Social Security Trust Fund) as those holdings KP are intra-government and not tradable in public. Source: Dept. of Treasury, as of CQ2:10. www.kpcb.com nc. | Income Statement Drilldown B kpeb USA Ine. | | $s Drilld 171 Debt Composition: Foreign Investors & Governments Hold 46% of USA Inc. Public Debt, Up From 4% in 1970 — How Much Higher Should It Go? Foreign Ownership of US Treasury Securities, CQ1:1970 — CQ2:2010 BGG wc - mee eo a a me en ns nS EE A I TO mE Top Foreign Owners, CQ2:10 China 10% = 40% Japan 9% ~~ fe wo a UK 3% 2) & Oil Exporters* 3% 2 oe I , w Brazil 2% - 2 All Other 18% BP 20% ~~ n= = ee ee lg = ae ee ae ee ee ae fre ne ee eee ee ee eee C7) 5 Oo ¢ a D 10% fn ° Le 0% 1970 1975 1980 1985 1990 1995 2000 2005 2010 Note: *Oil exporters include Ecuador, Venezuela, Indonesia, Bahrain, Iran, lraq, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, Algeria, Gabon, Libya, and Nigeria. KP Source: Dept. of Treasury, as of CQ2:10. (@E) www.kpcb.com USA Inc. | Income Statement Drilldown 172 HOUSE_OVERSIGHT_020927