I knew about the Japan point. Then again, this is from govt statistics and we know how the govt manipulates numbers. Also, using how much they hold as a percentage is one of those manipulations to make it seem smaller when our debt is just too high. This is what the right does on military spending when they use it as a precentage of GDP. This is also, why CPI, GDP, employment numbers and when there's a recession, depression or recovery runs counter to people's personal and business experiences.
“Experience should teach us to be most on our guard to protect liberty when the Government’s purposes are beneficent. Men born to freedom are naturally alert to repel invasion of their liberty by evil-minded rulers. The greatest dangers to liberty lurk in insidious encroachment by men of zeal, well-meaning but without understanding.” — James Madison