{"id":3192,"date":"2009-01-08T10:26:40","date_gmt":"2009-01-08T15:26:40","guid":{"rendered":"http:\/\/law.marquette.edu\/facultyblog\/?p=3192"},"modified":"2009-01-08T22:18:37","modified_gmt":"2009-01-09T03:18:37","slug":"deficits-and-debts","status":"publish","type":"post","link":"https:\/\/law.marquette.edu\/facultyblog\/2009\/01\/deficits-and-debts\/","title":{"rendered":"Deficits and Debts"},"content":{"rendered":"<p>Before you start searching your mailbox for the next economic stimulus check, sobering reports today put the budget deficit at <a href=\"http:\/\/www.nytimes.com\/2009\/01\/08\/business\/economy\/08deficit.html?em\">$1.2 trillion for the fiscal year<\/a>.<\/p>\n<p>This, of course, pales in comparison to the national debt, which is expected to increase by <a href=\"http:\/\/inhome.rediff.com\/money\/2009\/jan\/03bcrisis-us-debt-could-increase-by-dollar-2-trillion-this-year.htm\">$2 trillion this year <\/a>.  That would put the national debt at about $12.7 trillion.  The current debt stands at about $10.7 trillion, with 40% of that owned by government accounts.  Interestingly, China owned $652.9 billion in treasury securities as of October 2008.  That\u2019s a $193.8 billion increase from that same month in 2007.  You can see the remainder of the major foreign holders of debt <a href=\"http:\/\/www.treas.gov\/tic\/mfh.txt\">here<\/a>.<\/p>\n<p>Make your checks payable to the <a href=\"http:\/\/www.treasurydirect.gov\/govt\/resources\/faq\/faq_publicdebt.htm#DebtOwner\">Bureau of the Public Debt<\/a>.<\/p>\n<p>UPDATE: According to the New York Times today, China currently owns over $1 trillion in treasury securities, but they&#8217;re <a href=\"http:\/\/www.nytimes.com\/2009\/01\/08\/business\/worldbusiness\/08yuan.html?scp=2&amp;sq=china&amp;st=cse\">not really interested in more.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Before you start searching your mailbox for the next economic stimulus check, sobering reports today put the budget deficit at $1.2 trillion for the fiscal year. This, of course, pales in comparison to the national debt, which is expected to increase by $2 trillion this year . That would put the national debt at about [&hellip;]<\/p>\n","protected":false},"author":45,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3192","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"_links":{"self":[{"href":"https:\/\/law.marquette.edu\/facultyblog\/wp-json\/wp\/v2\/posts\/3192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/law.marquette.edu\/facultyblog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/law.marquette.edu\/facultyblog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/law.marquette.edu\/facultyblog\/wp-json\/wp\/v2\/users\/45"}],"replies":[{"embeddable":true,"href":"https:\/\/law.marquette.edu\/facultyblog\/wp-json\/wp\/v2\/comments?post=3192"}],"version-history":[{"count":0,"href":"https:\/\/law.marquette.edu\/facultyblog\/wp-json\/wp\/v2\/posts\/3192\/revisions"}],"wp:attachment":[{"href":"https:\/\/law.marquette.edu\/facultyblog\/wp-json\/wp\/v2\/media?parent=3192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/law.marquette.edu\/facultyblog\/wp-json\/wp\/v2\/categories?post=3192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/law.marquette.edu\/facultyblog\/wp-json\/wp\/v2\/tags?post=3192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}