At the close of the federal government's 2017 fiscal year, foreign & international entities owned 31% of all federal government debt, as opposed to 8% by mutual funds, and 3% by state & local governments. Per the White House Office of Management & Budget, "During most of American history, the Federal debt was held almost entirely by individuals and institutions within the United States. In the late 1960s, foreign holdings were just over $10 billion, less than 5 percent of the total Federal debt held by the public. Foreign holdings began to grow significantly starting in the 1970s and now represent almost half of outstanding debt [held by the public]."