Thomas Klitgaard - United States

AI created illustration of a forefinger and thumb holding a tiny 100 dollar bill U.S. Map of the U.S. on a blue field in the background. Done in Pop Art style.

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Honey, Who Shrunk the U.S. Income Surplus?

May 18, 2026

Matthew Higgins and Thomas Klitgaard Foreign holdings of U.S. financial assets are immense, with official estimates putting their…