The debt is largely financed by the sale of Treasury bonds and bills. Even today, amid global economic turmoil, those still are seen as one of the world’s safest investments.
That’s one of the rare upsides of U.S. government borrowing.
Treasury securities are suitable for individual investors and popular with other countries, especially China, Japan and the Persian Gulf oil exporters, the three top foreign holders of U.S. debt.
But as the U.S. spends trillions to stabilize the recession-wracked economy, helping to force down the value of the dollar, the securities become less attractive as investments. Some major foreign lenders are already paring back on their purchases of U.S. bonds and other securities. And if major holders of U.S. debt were to flee, it would send shock waves through the global economy – and sharply force up U.S. interest rates.
As time goes by, demographics suggest things will get worse before they get better, even after the recession ends, as more baby boomers retire and begin collecting Social Security and Medicare benefits.
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July 4, 2009: An Independence Day Reflection
I’m sure that many bloggers across the nation are going to proffer a few photographs of fireworks this year, or display pull-quotes out of the Declaration of Independence.
Instead, I’d like to fast forward to now. I’d care to reminisce and ruminate on this country in general. Because too many people blow this holiday off and equate it only to cheap and dangerous fireworks, drinks, shouting and unruly children and sunburns.
This country is more; so much more. But no one seems to notice and no one seems to much care.
Uncle Sam is sad and growing sadder. He is watching not only the emasculation of his once-great country but the denigration of those documents which allowed the Unites States of America to be created from, essentially, swamps and flies and dirt.
Further, our true Founding Fathers are consistently being minimized, excoriated, their thoughts and motivations re-written, emphasized to blasphemous and false terms, reduced to controlling Privileged, Slave-Owning White Males. It is as if their contributions, thoughts, deeds, desires for freedom, grand words, acts and philosophies are completely inconsequential. I refuse, out of hand, to even remotely accept this.
This John Trumbull painting was objected-to by John Adams, the 2nd President of the United States. Mr Adams said, essentially, that the declaration was signed but only upon its signators appearing on various days and never at one time. They were never all in one room at one time.Both John Adams and Thomas Jefferson died on the same day — July 4th, 1826 — precisely 50 years after the founding of this great nation.
Sarah Palin To Step Down As Governor
Illegal To Idle Your Car
NEW YORK – The fumes from idling taxicabs and delivery trucks can be so bad outside city schools that teachers race to close their classroom windows at certain times of the day to protect their students.
A new law seeks to cut that pollution by giving vehicles just 60 seconds to idle in a school zone.The measure signed into law this month cuts the allowed idling time from three minutes to one minute around schools, and gives more city agencies the power to issue violations. It also requires an annual violations report so officials can track enforcement.
Now, Kalin said, the main problems are vehicles that have nothing to do with the school but are simply idling nearby, like delivery trucks and general street traffic.



