China Foreign Exchange Reserves At $1.954 Trillion -- My Way NewsBEIJING (AP) - China's central bank said Saturday that its foreign exchange reserves rose 16 percent year-on-year to $1.9537 trillion by the end of March.
China's reserves, already the world's largest, increased by $7.7 billion in the first quarter - $146.2 billion less than the same period last year, the People's Bank of China said in a notice on its Web site.
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Federal Budget Deficit Sets March Record $192.3B -- My Way NewsWASHINGTON (AP) - The Treasury Department said Friday that the budget deficit increased by $192.3 billion in March, and is near $1 trillion just halfway through the budget year, as costs of the financial bailout and recession mount.
Last month's deficit, a record for March, was significantly higher than the $150 billion that economists expected.
The deficit already totals $956.8 billion for the first six months of the budget year, also a record for that period. The Obama administration projects the deficit for the entire year will hit $1.75 trillion.
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My Comment: It is not too hard to figure out who is on the right/wrong track when it comes to their country's finances. These trends will have a profound political/economic/and military impact for the medium term .... but unfortunately for us, we live in the country that is going down the wrong direction.
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