As the economy falters subsequent to the nationalizing of mortgages by the Democrat Controlled Congress, Washington continues to look to China to buy up its looming debt.
In September China held $518.7 Billion Dollars worth of U.S. Treasury Bonds has Washington asked China to purchase more debentures?
China Central Bank is denying media reports today that it will purchase another $200 Billion Dollars worth of Treasury Bonds to
help Washington combat its deepening financial crisis.
More here from China Daily
While China sees its economy slowing during the second half of this year, Chinese Economists believe Tax Cuts are needed to sustain its continued economic growth. More here and here from China.org
Democratic VP Candidate Senator Joe Biden believes that paying more taxes is patriotic for wealthier Americans and continues to claim that a vast majority of Americans would receive a tax-cut but were expected to trust Democrats with our money and elect Obama as President.
What are the facts:
Obama's Tax Cuts Real & Imaginary from Noticias de Cuba, courtesy the Weekly Standard, September 15, 2008
