China has divested 97% of its holdings of U.S. Treasury bills

Who increased the debt? – h

According to the U.S. Treasury, China has divested 97% of its holdings of U.S. Treasury bills, falling from a peak of $210.4 Billion in May 2009, to $5.69 Billion in March 2011. T-bills mature in one year, or less and are sold to fund the nation’s debt. Chinese holdings of U.S. Treasury bills are reported in column 9 of the Treasury report linked here.
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The cost of fighting a decade-long war was not funded. In fact, it was de-funded, because taxes were cut. That has NEVER been done in our nation’s history. NEVER.

Only an utter incompetent would cut income and increase spending. And yet, that’s exactly what happened.

Tax revenues as a %age of GDP gradually rose from 1995-2000 from ~28% to 30%, then gradually fell to ~26% in 2005. Since 1945, tax rates have continually fallen, yet it was during that time when tax rates were highest that our nation flourished, infrastructure was created, population and economic opportunity expanded, and small businesses flourished.

According to the United States Treasury, on January 20, 2009:

Taxpayers’ $182B TARP bailout of AIG Now Fully Recovered

As the president and others – nonpartisan and partisan alike – have noted, BIG BUSINESS should NOT need a bailout. They should be operated in such a manner as to allow the Free Market to decide how, to what extent, and if they prosper. As part of that process, ironclad and strong regulation to prevent fraud and abuse should be vigorously enforced. And chief executives

Inspector General uncovers Fraud, Waste & Abuse in Treasury Department

Now that the Wall Street fox is watching the financial hen house, is it any wonder?

Cases like these continue to demonstrate the NEED for fiscal 1.) Transparency; 2.) Accountability, and 3.) Ongoing publicly available agency reports.

It’s Fraud, Waste and Abuse – pure & simple.

And, it’s time to prosecute.

Not because of what it was used for – they could’ve bought jelly doughnuts – but for whose trust was betrayed, and who was abused.

The people.

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Treasury staffer solicited prostitutes: report

1:47pm EDT

WASHINGTON (Reuters) – A Treasury Department employee used government resources to solicit prostitutes and another employee accepted gifts from a bank he supervised in violation of conflict of interest rules, reports from Treasury’s internal watchdog said.

A Treasury staffer with the now defunct Office of Thrift Supervision (OTS) used his government email to arrange sexual encounters with women advertised on Craigslist, viewed websites offering erotic services and met with prostitutes on three separate occasions, a report by Treasury’s inspector general said.

The OTS has since merged with the Office of the Comptroller of the Currency. The OTS official, who

Unemployed? Mortgage Trouble? Facing Foreclosure? Live in Alabama?

Help is HERE!

If you are an unemployed Alabamian, down on your luck – and in this economy, who’s NOT?!? – and are facing the possible disaster of losing your family’s home… becoming homeless, THERE IS HELP AVAILABLE, right now!

Click on this link for additional details, and to apply for help: “Hardest Hit Alabama.”

FYI, that is a SECURE website. That is, the https protocol is used. (The reader should be aware that there are other links within this entry, most of which are informational. The “Hardest Hit Alabama” link, however, is directly to that site: https://www.hardesthitalabama.com/index-static.html.

Here’s a brief primer from the site on the foreclosure prevention program.