Then there are the countries that owe America money. Even though Japan holds the biggest amount of U.S. debt, the U.S. is also owed a lot of money by them too. ... Debts and Debtors of the US Government. Country NameValue of Holdings (Billions of $) Japan1,090.8 Mainland China1,058.4 Ireland288.2 Cayman Islands263.5 31 more rows