U.S. Default by the Numbers: Who Owns the Debt?

Your next video will start in

Recommended Videos

  • Info

  • Comments


Oct. 16 (Bloomberg) -- Bloomberg Television's "Lunch Money" Host Adam Johnson reports on U.S. government spending. (Source: Bloomberg)

Republican party, but bottom line -- they lost and they have lost them pretty predictable fashion.

At this point, they have no leverage.

Mitch mcconnell will cut the best deal he can, which is not much.

And it will go over to the house and they will pass it in the grand tradition of the house and we will get this thing solved.

And that is from a republican strategist.

The u.s. is still up against a deadline of being able to pay its bills.

Hans nichols shows us the numbers involved.

October 17 is the date treasury secretary jack lew has circled on his calendar, when the u.s. will be down to its last $30 billion.

But the congressional budget office gives treasury until the end of the month, because cbo thinks treasury can stretch its dollar a little farther.

-- a little further.

But some big payments will be due.

$12 million in social security checks are scheduled for the 23rd.

And on the 31st, halloween, markets may be spooked when a $6 billion interest payment comes due.

The very next day, 67 billion dollars must go out, $25 billion for social security, $17 billion for medicare, and $25 billion for medicare.

Government, mutual funds, insurance companies, and banks could be held hostage.

The federal reserve is the biggest owner of public that, followed by china at 11, and japan at 10. banks hold only three percent.

City has the most.

Then jpmorgan and morgan stanley.

Then it drops off.

Bank of america, 720 $6 million.

Wells fargo, $520 million, and goldman sachs has just $28 million.

No one wants to compensate -- think about what would happen if we reach the debt ceiling.

A default on one bond will not trigger the default of another.

At least there are no cross defaults.

Yesterday, fitch ratings put

This text has been automatically generated. It may not be 100% accurate.


BTV Channel Finder


ZIP is required for U.S. locations

Bloomberg Television in   change