Who owns America? Hint: It's not China

[Guest guest]

TRUTH is elusive. But it's a good thing we have math

By Tom Mucha, Global Post

Here's the big idea:

Many people — politicians and pundits alike — prattle on that China and, to a lesser extent Japan, own most of America's $14.3 trillion in government debt.

But there's one little problem with that conventional wisdom: it's just not true. While the Chinese, Japanese and plenty of other foreigners own substantial amounts, it's really Americans who hold most of America's debt.

Here's a quick and fascinating breakdown by total amount held and percentage of total U.S. debt, according to Business Insider:

Hong Kong: $121.9 billion (0.9 percent)

Caribbean banking centers: $148.3 (1 percent)

Taiwan: $153.4 billion (1.1 percent)

Brazil: $211.4 billion (1.5 percent)

Oil exporting countries: $229.8 billion (1.6 percent)

Mutual funds: $300.5 billion (2 percent)

Commercial banks: $301.8 billion (2.1 percent)

State, local and federal retirement funds: $320.9 billion (2.2 percent)

Money market mutual funds: $337.7 billion (2.4 percent)

United Kingdom: $346.5 billion (2.4 percent)

Private pension funds: $504.7 billion (3.5 percent)

State and local governments: $506.1 billion (3.5 percent)

Japan: $912.4 billion (6.4 percent)

U.S. households: $959.4 billion (6.6 percent)

China: $1.16 trillion (8 percent)

The U.S. Treasury: $1.63 trillion (11.3 percent)

Social Security trust fund: $2.67 trillion (19 percent)

So America owes foreigners about $4.5 trillion in debt. But America owes America $9.8 trillion.Math helps with the numbers to show America seems to be on meth