Japan Surpasses China as Top Foreign Holder of U.S. Debt

(CNSNews.com) – Entities in Japan have surpassed entities in Mainland China as the top foreign holders of U.S. Treasury securities, according to the latest estimate published this month by the Treasury. In May of this year, the Chinese owned $1,110,200,000,000 in U.S Treasury securities and the Japanese owned $1,101,000,000,000. In June, however, Chinese ownership of […]

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EPA

EPA Regulators Gone Wild

Following the revelation that the Environmental Protection Agency plans to garnish wages without a court order to collect non-tax debts (i.e. misused grant funds, unrepaid loans or “fines, penalties or fees assessed by federal agencies”), the EPA has sought to defend its proposed rules. The agency cites The Debt Collection Improvement Act of 1996 (DCIA) […]

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$43,000 Per Household

Did you know that since President Obama came into office, the debt limit has been raised seven times? With those increases, Congress has added $43,000 in debt for every American household in just the last four years. And now the debt limit deadline is looming again. Treasury will run out of tricks to keep paying […]

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Does Carney Really Expect Us to Believe Obama Knew Nothing of the Actions of the IRS?

By United Press International May 21, 2013 6:57 am President Obama’s staff deliberately kept him in the dark about an impending report on the Internal Revenue Service scandal, his press secretary said Monday. White House press secretary Jay Carney said during his daily briefing with reporters White House counsel Kathryn Ruemmler had been notified a […]

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China Is Not Our Banker

China has fallen behind Japan as the largest foreign holder of U.S. securities. The Department of the Treasury’s new numbers are good only through June 30, 2012, but it puts Japan at $1.84 trillion and China at $1.59 trillion. There are lots of things to say about this, but one stands out: The loose talk […]

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WH: Federal Revenue Hit All-Time High of $2.57T—In 2007 Under Bush

(CNSNews.com) – According to data published by the White House Office of Management and Budget and the U.S. Treasury, federal revenues hit an all-time high of approximately $2.57 trillion—back in fiscal 2007 under President George W. Bush. Earlier this year, OMB published a table as part of President Barack Obama’s 2013 budget proposal that showed […]

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Sen. David Vitter on Drilling, Jobs and the Deficit

Few people have been more vocal about the challenges facing offshore drilling in the Gulf of Mexico than Sen. David Vitter. As a Republican from Louisiana, Vitter has firsthand knowledge of the Obama administration’s slow pace of permitting since last year’s oil spill. Louisiana has yet to fully recover from the drilling moratorium and the […]

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