By the end of 2024, the total public debt of the United States will reach a record level of $36.22 trillion. Of this, about $8.5 trillion, equivalent to nearly 25%, is held by foreign investors. Foreign central banks often hold U.S. Treasury bonds as a reserve, as well as a safe haven for investors during times of market volatility. Data shows that the top 20 creditors of the United States hold a total of nearly $7 trillion in U.S. government bonds. Japan is the largest creditor, holding nearly $1.06 trillion in U.S. Treasury bonds, followed by China and the United Kingdom with $759 billion and $723 billion, respectively. The U.S. Congressional Budget Office (CBO) warns that if the Tax Cuts and Jobs Act is permanently extended, the U.S. public debt could exceed 200% of GDP by 2047 and reach 250% of GDP by 2054.