(CNSNews.com) - Since President Barack Obama was inaugurated in January 2009, the Federal Reserve’s holdings of U.S. government debt have quintupled, according to the Fed’s official monthly balance sheet.
On Jan. 28, 2009, a week after Obama’s nomination, the Fed owned $302 billion
in U.S. Treasury securities. On April 25, 2012, the latest date
reported, the Fed owned five and a half time that much in U.S. Treasury
That is an increase from January 2009 of $1.366 trillion—or 452 percent.
Under Obama, the Federal Reserve has become the single largest owner
of U.S. government debt. When Obama entered office, entities in the
People’s Republic of China were the largest holders, followed by
entities in Japan. At the end of January 2009, China owned $739.6
billion in U.S. government debt and Japan owned $634.8 billion.
By the end of March 2012, China’s holdings of U.S. debt had grown to $1.1699 trillion and Japan’s holdings had grown to $1.083 trillion.
Together, the Federal Reserve, China and Japan had increased their
holdings of U.S. debt by $2.2445 trillion since Obama took office.
The total U.S. government debt grew from $10.6179 trillion to
$15.6233 between Jan. 28, 2009 and April 25, 2012. Leaving out the
intragovernmental debt—which the federal government owes itself—the
publicly owned part of the U.S. government debt has climbed from $6.2955
trillion to $10.8607 trillion, an increase of $4.5652 trillion.
The $2.2445 trillion of that new publicly owned U.S. government debt
that was purchased by the Fed, China and Japan equals 49 percent of all
the new debt the U.S. government has sold to the public since Obama