US Senator Jim Webb China is one of the biggest economies in the world and grew at more than 9 percent over the last year. It also has loaned more than $1 trillion to the U.S. to fund its deficit-spending. But at the same time, the U.S. sends foreign aid to China, which lawmakers of all stripes say is just plain nuts. “Why in the world would we be borrowing money and then turn around and giving... 

In this game, the house always wins. Bipartisan complicity stacked the deck against millions of working households, needing to know that political Washington is scamming them. The end result is the banana republicanization of America. American writer O. Henry (William Sydney Porter: 1862 – 1910) coined the term (his fictional Republic of Anchuria) in his book, “Cabbages and Kings.” It refers... 

Life is good for Rome's political class. As Rome implements deep austerity measures in a bid to save its economy from a fate similar to Greece, many Italians are voicing anger over the privileged lifestyles of their elected representatives. Italy’s elected officials are the highest paid politicians in the world and are also among the biggest cheaters, according to an anonymous Italian blogger... 

While the debt ceiling debate rages and Congress is busy haggling over who should be taxed and what programs should be slashed, they’ve promised to consider all options except…one. Lawmakers have chosen to forget that immigration is a discretionary social policy that by definition is designed to be adjusted to serve the nation’s broad national interest, particularly during difficult economic... 

Greek protesters hold a demonstration in front of the old university in Athens, Greece, on May 31, 2011. The protest was organized by Greek academics against austerity measures and was joined by thousands of Greek citizens. Greek prime minister outlines programme of state sell-offs and further belt-tightening. With protests dividing his own party and tens of thousands taking to the streets, Greece’s... 

The Obama administration has decided to provide about $1 billion in debt relief for Egypt, a senior official said Saturday, in the boldest U.S. effort yet to shore up a key Middle East ally as it attempts a democratic transition. The aid would be part of a major economic aid package that also includes trade and investment incentives, officials said. It is intended to help stabilize Egypt after demonstrations... 

Capitalism Fixes Problems & Preserves Democracy: Capitalism is what we should be relying on to fix our problems. Capitalism has it’s own ecosystem, just like biology’s ecosystem. An economic ecosystem that weeds out the weak, has parasites that eat the failures and new bacteria that evolves and grows replacements for that which failed. A system that keeps everything in balance. The... 

The United States just passed a dubious milestone: Government debt surged to an all-time high, passing $14 trillion – $45,300 for every person in the country. That means Congress soon will have to lift the legal debt ceiling to give the almost maxed-out government an even higher credit limit or dramatically cut spending to stay under the current cap. Either way, a fight is ahead on Capitol Hill,... 

A bank-owned home in Miami, Fla., where foreclosure sales made up 39.7 percent in the most recent quarter, according to RealtyTrac. Analysts expect more foreclosures in early 2011. Over the holidays, many lenders put foreclosures on hold. But that temporary freeze is over now. Industry watchers are expecting thousands of foreclosed properties to hit the market in the weeks and months ahead. Home foreclosure... 

The bill includes about $5.4 billion for new labor, education and health spending. Defying the political odds, Senate Democrats rolled out a year-end, governmentwide spending bill Tuesday that cuts more than $26 billion from President Barack Obama’s 2011 requests even as it holds firm to thousands of the appropriations earmarks so adamantly opposed by critics of Congress. Filling more than 1,900... 

The Brandenburg Gate in Berlin, Germany. Germany will finally pay off the last of its debts from World War One this Sunday, on the 20th anniversary of German reunification. Germany’s federal office for central services and unresolved property issues (BADV) said on Tuesday a bond issued to pay remaining debts stemming from the conflict would mature on October 3, two decades after West and East... 

“President” of Belarus Alexander Lukashenko Arguments by the Belarusian ruler are surprising as usual: how can we owe to Russia, if we fought together in 1941? Alyaksandr Lukashenka called today to show the Russian leadership a Belarusian-Russian film about the Brest Fortress to remind about the unity of the two peoples, Interfax news agency reports. “The film has made a storm of impressions... 

WASHINGTON – In a chilling forecast, the White House is predicting a 10-year federal deficit of $9 trillion — more than the sum of all previous deficits since America’s founding. And it says by the next decade’s end the national debt will equal three-quarters of the entire U.S. economy. But before President Barack Obama can do much about it, he’ll have to weather recession...