Have you wondered why US was at a default in August of 2011? This article seeks to examine US expenses and debts. Where has all the money gone? Let’s take a look.

1. The American People:

Amount Owed: $4.7 trillion (2010)

2. China:

Amount Owed: $884 billion (2010);

$1.1 trillion (2011)

3. Japan:

Amount Owed: $865 billion (2010);

$914 billion (2011)

4. United Kingdom:

Amount Owed: $459 billion (2010)

$346 billion (2011)

5. Ireland:

Amount Owed: $197 billion (2010)

$346 billion (2011)