Newslinks 10/24/10

October 24, 2010 at 8:24 pm | Posted in Newslinks | Leave a comment
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National Debt Increases for 53rd Straight Fiscal Year; Jumped $1.65 Trillion in FY 2010
(CNSNews.com)
– The national debt increased for the 53rd straight fiscal year in fiscal 2010, when it jumped $1.65 trillion, according to data posted online by the Bureau of the Public Debt and confirmed by a spokesperson for the agency. The bureau says its reporting of the federal debt at the end of each fiscal year (as posted here) states exactly to the penny the full and actual amount the U.S. government has borrowed as of that date.

Value-Added Tax Would Hurt Economy, Kill Jobs, Business Group Study Finds
(CNSNews.com)
– An economic analysis sponsored by the National Retail Federation shows that a Value-Added Tax would damage economic growth and kill hundreds of thousands of jobs. The study showed that a large reduction in federal spending would be better for the economy. President Obama’s Fiscal Commission reportedly is considering a VAT as one option for reigning in out-of-control federal deficits.

Iran Elected to Chair OPEC Next Year; Dismisses Western Energy Sanctions as Ineffective
(CNSNews.com)
– For the first time since the Islamic revolution, Iran has been handed the rotating presidency of the OPEC cartel of oil-producing nations. The move comes at a time when Western governments are seeking to target Iran’s energy sector over its nuclear programs. Iran is pushing for oil to be priced against a currency, or basket of currencies, other than the U.S. dollar. Continue Reading Newslinks 10/24/10…


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