Under the Radar
America's Debt
Earlier this summer, Japan surpassed China as the largest foreign holder of America’s national debt after purchasing an additional $21 billion in U.S. treasury securities. This comes as the U.S. and Japan prepare to finalize a trade deal next month, when the U.S. and China may resume talks to stave off further escalations in their trade war.
As of June, Japan owned $1.122 trillion of America’s $22 trillion national debt, narrowly edging out the $1.112 trillion owned by China.
To give you a sense of recent trends in foreign investment in U.S. debt, this chart from USAFacts shows the amount of Treasury securities held by China, Japan, and other nations from 2000 to 2018:
The national debt has grown rapidly in recent years because the federal government has run sizable budget deficits that are largely driven by mandatory spending. That includes programs like Social Security, Medicare, and servicing the national debt (which is expected to cost $383 billion this year).
How do you feel about reducing the national debt?
Fur Ban
California is poised to become the first state in the nation to ban mink, rabbit, and other fur accessories. Earlier this year, Los Angeles became the largest city in America to outlaw fur sales.
Under AB 44, the sale and manufacture of new fur products in the Golden State would end, but vintage pelts would remain legal, and would hides from cows, goats, sheep and lambs.
“Today there are a variety of humane alternatives, both in terms of faux fur that is virtually indistinguishable from real fur, and alternative textiles that are just as warm or fashionable," said Assemblywoman Laura Friedman (D-Glendale), author of the bill. "There is no need for fur in the 21st century and no place for it in a sustainable future.”
But critics claim that the law singles out certain ethnic and religious groups while protecting others. Religious articles worn by Native Americans and Ashkenazi Jews, for example, are exempted from the law. Yet fox stoles that are popular at Persian synagogues and black churches are not protected.
“What makes their religion more important?” said Irene Gandy, who heads the Coalition for Blacks for Furs in New York. “We go to church, we’re still praying. We have as much right to wear our furs for our faith.”
Do you support a ban on fur?
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