US growing debt load and who is paying.

Both the Democrats and the Republicans said a debt-ceiling increase had to be accompanied by spending cuts, but they couldn’t agree on the scope of those cuts. The agreement raises the debt cap by up to $2.4 trillion in three steps. It cuts $917 billion in spending over 10 years and creates a congressional committee to close the deficit by an additional $1.5 trillion. Republicans are perturbed over the cuts to defense spending – of the initial $917 billion in spending cuts, $350 billion come from defense.

The graphs below (from the Wall Street Journal) show the growing debt load of the US Treasury and those countries that are buying up US Treasury Securities.

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